ISLAMABAD: Pakistan’s Petroleum Minister Ali Pervaiz Malik arrived in Saudi Arabia on Saturday to attend a high-level international energy conference, his ministry announced, amid a broader domestic challenge of soaring fuel costs, disrupted gas imports and increasing pressure to curb subsidies.
His trip coincides with Pakistan confronting a deepening energy supply crunch tied to the US‑Iran conflict, which has curtailed liquefied natural gas (LNG) shipments from Qatar and pushed import prices higher.
Petrol and diesel prices have surged since the conflict erupted in late February, approaching Rs400 per litre. To cushion lower‑income drivers, Islamabad launched a fuel‑relief scheme last month, though the International Monetary Fund (IMF) has called for its gradual withdrawal, citing substantial fiscal strain and extensive eligibility.
“Federal Petroleum Minister Ali Pervaiz Malik is in Saudi Arabia,” Rabia Khalid, a ministry spokesperson, told Arab News.
“He will take part in the conference, which begins tomorrow,” she added, confirming that Malik is set to attend the 17th International Energy Forum (IEF) Ministerial in Riyadh on Sunday.
Hosted by Saudi Arabia and co‑hosted by Italy and Nigeria, the gathering will bring together senior officials from leading energy‑producing and consuming nations, as well as executives from major firms such as Saudi Aramco, ExxonMobil, Shell and BP.
According to the agenda, Malik is slated to speak during a session on investment and trade in sustainable energy solutions, emphasizing how to make energy cleaner, more accessible and affordable.
Pakistan, which is heavily dependent on imported energy, has become especially vulnerable to disruptions in Gulf supplies as the US‑Iran tension escalates.
QatarEnergy, a key LNG supplier to Pakistan under long‑term contracts, has extended its delivery suspension until 5 Nov., compelling Islamabad to seek alternative sources before winter, when household gas consumption typically peaks.
The shortfall also threatens power availability. Karachi’s electricity provider, K‑Electric, warned on Friday that it may have to enforce load‑shedding during evening and nighttime peak periods owing to inadequate regasified LNG for generation.
The energy crisis further complicates Pakistan’s compliance with the terms of its $7 billion International Monetary Fund bailout program.
The lender urged Islamabad this week to quickly phase out its fuel‑subsidy scheme, yet the government has maintained the program, which offers discounted fuel to motorcyclists, rickshaw operators and owners of small vehicles impacted by rising petroleum costs.
An IMF staff‑level agreement was reached with Pakistan on Wednesday that could release roughly $1.2 billion in financing, pending board approval, while cautioning about the broader economic repercussions of the Middle East conflict.
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