ISLAMABAD: Pakistan is set to receive three petroleum shipments by tomorrow, Petroleum Minister Ali Pervaiz Malik announced on Sunday, amid rising global oil prices and supply concerns caused by the ongoing Israel-Iran conflict.

The briefing, attended by Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah, came after Prime Minister Shehbaz Sharif directed authorities to ensure uninterrupted petroleum supply and devise conservation strategies. Malik emphasised that fuel-saving measures are essential to extend existing reserves, and the government plans to request International Monetary Fund relief on the petroleum levy.

Finance Minister Aurangzeb warned that Pakistan’s monthly oil import bill could rise to $600 million if the conflict escalates further, with crude oil prices potentially reaching $120 per barrel. Diplomatic contacts with Saudi Arabia, Oman, and the UAE are ongoing to secure alternative fuel sources, bypassing supply routes through the Strait of Hormuz.

Provincial governments agreed to increase coordination to prevent hoarding at petrol pumps, with a joint monitoring dashboard under preparation. Punjab Chief Minister Maryam Nawaz urged citizens to remain resilient and assured that petroleum products would not be sold above regulated prices. Emergency measures to monitor reserves and prevent fuel shortages are being implemented across all provinces.

The government had raised petrol and diesel prices by Rs55 per litre last week, reflecting disruptions in global supply and the first direct economic impact of the Middle East conflict on Pakistan.