Federal Petroleum Minister Ali Pervaiz Malik has warned that petrol prices could rise to Rs1,000 per litre if a shortage emerges in the country.
Speaking to media in Lahore, he said there is currently no petrol shortage in Pakistan. He said oil prices have risen in Europe and the United States, and that the international market has recorded an increase of 80 percent, while Pakistan has raised prices by only 50 percent.
He said Prime Minister Shehbaz Sharif had acted to contain the rise in petrol prices. He added that the government will not allow gas shortages for consumers this winter, even if it has to import gas worth $100 million instead of $3 million.
The minister said tokens worth Rs180 million were issued in a single day on the previous day. He said work has begun on oil wells and that the government expects to make an oil discovery within October.
