PM Shehbaz Forms 18-Member Committee to Monitor Oil Prices Amid Rising International Rates

Islamabad:In response to rising international oil prices, Prime Minister Shehbaz Sharif has constituted an 18-member high-level committee to review the situation and oversee measures related to oil supply and pricing.

According to the official notification, Finance Minister Mohammad Aurangzeb will serve as the committee convener. The panel includes the Ministers for Petroleum, Energy, State Minister for Finance, secretaries from various ministries, the Governor of the State Bank of Pakistan, the Chairman of Federal Board of Revenue (FBR), the Chairman of Oil & Gas Regulatory Authority (OGRA), and other senior officials.

The committee will assess the impact of the ongoing war on Pakistan’s economy, continuously monitor oil supply and international price fluctuations, and formulate strategies to ensure uninterrupted petroleum supply. Additionally, it will evaluate the potential long-term economic consequences of sustained geopolitical tensions on Pakistan’s economy.