Islamabad (Urdu Point / Pakistan Point News – April 3, 2026) Federalism Today, Thursday, Minister of Petroleum Ali Parvez Malik announced an increase in the prices of petroleum products gasoline to Rs 458.40 per liter and high-speed diesel to Rs 520.35 per litre.
The government cannot provide blanket subsidies to all segments of society and will instead focus on targeted protection for vulnerable groups, he said in a press conference with Finance Minister Muhammad Aurangzeb.
He pointed out that crude oil Prices In Dubai and Oman Markets – where Pakistan Iran buys about 80% of its energy supplies, and this has risen to record levels. He said that the prices of crude oil and diesel reached historic levels, exceeding $250.
He stressed the need to maintain economic stability and avoid sliding back into a financial crisis, noting that the recent gains were achieved through the continued efforts made by the government.
The minister said the government had tried to balance relief measures with financial constraints, adding that resources remained limited and global uncertainty remained.
He said that in the absence of any immediate solution to the ongoing international pressure, the government was forced to pass the resolution price Amendments in line with its commitments and obligations.
He reiterated that despite efforts to protect the public – especially through partial protection – the prevailing economic situation necessitates difficult decisions to ensure long-term stability.
The minister expressed gratitude to the country’s leadership, including President Asif Ali Zardari, provincial chief ministers, and coalition partners, for their guidance at a critical juncture as the government moves towards taking key economic decisions.
He said that the leadership played a crucial role in guiding the government through a sensitive phase, and helped shape decisions that are expected to have far-reaching impacts on the national economy.
Malek pointed to the ongoing global energy crisis, resulting from tensions in the Gulf region, which led to a sharp rise in global energy prices. “The entire world, not just the region, is feeling the impact of this crisis,” he said, adding that the situation requires the unity and discipline of the nation.
The minister said the current challenges were not of the government’s making, but acknowledged that the global economic shock had affected Pakistan’s progress towards stability and sustainable growth – efforts that began over the past two years under Prime Minister Shehbaz Sharif and his economic team.
Malik highlighted the contributions of Finance Minister Muhammad Aurangzeb, Deputy Prime Minister Ishaq Dar, and Field Marshal Syed Asim Munir, stressing the need to coordinate efforts to overcome the crisis.
To mitigate the impact on the public, Malik said Prime Minister Shehbaz Sharif led a series of austerity and environmental conservation measures. These included Federal Cabinet salary cuts, reductions in government fuel expenditure, grounding of 60 per cent of official vehicles, and cuts in development spending under the Public Sector Development Program (PSDP).
He revealed that the federal government spent Rs 129 one billion Since March 1 to protect consumers from the full impact of rising energy costs. These measures were implemented despite the additional challenge of securing alternative energy supply routes, as Pakistan had previously relied heavily on shipments through the Strait of Hormuz.
Malik credited coordinated efforts on the economic and diplomatic fronts to ensure uninterrupted fuel supplies throughout the country.
He added that many countries, including those with stronger financial reserves and strategic stockpiles, have declared energy emergencies, with long queues and even military deployments at gas stations.
On the other hand, he said that Pakistan was able to maintain stable fuel availability thanks to timely decisions taken by the government’s Crisis Management Committee.
Despite these efforts, the minister acknowledged that the public felt the burden of rising prices, indicating that the government is still aware of the difficulties facing citizens in light of the ongoing crisis.
He stressed the importance of acting responsibly to contain the situation and return to the path of economic stability and improving living standards.
Malik expressed his hope that the public will view the government’s difficult but necessary decisions in the broader context of global challenges and support efforts to secure a stable and prosperous future.