Pakistan Grappling With Gas Crisis; Pins High Hopes On Iran

Lahore: Pakistan has been grappling with a gas crisis for some time. Pakistani economist Mahmood Rasool stated that there is currently a severe gas shortage in most parts of the country. He added that, due to the crisis, the government is supplying gas to consumers—particularly in Punjab—for only a few hours a day. To address this issue, Pakistan is now looking towards Iran. It is worth noting that Pakistan played a pivotal role in halting the conflict between the US and Iran, and is now preparing to leverage the resulting peace agreement.

What is the situation in Pakistan?

Significantly, the US has temporarily eased sanctions. It has issued a 60-day waiver allowing Iran to export crude oil and petroleum products under specific conditions. However, this is not a permanent exemption; it could be renewed or terminated based on the outcome of US-Iran negotiations. Following this decision, there have been calls from various quarters to purchase cheaper oil and gas from Iran to benefit the general public.

What did  Ali Pervaiz Malik say? 

Pakistan's Petroleum Minister, Ali Pervaiz Malik, stated in Lahore that peace has been restored in the Gulf region following the end of the US-Iran conflict, leading to a drop in international petroleum prices. He mentioned that the government is considering the option of importing oil and gas from Iran at lower rates. Malik affirmed that the Pakistani government would continue to operate in accordance with international agreements and obligations.

Meanwhile, the Minister alleged that certain elements were misleading the public regarding petroleum prices. He stated that Prime Minister Shehbaz Sharif has ensured that the benefits of lower international prices are immediately passed on to the public. During the US-Iran conflict, petroleum prices in Pakistan had surged to as high as 414 rupees per liter; currently, the price of petrol stands at 300 rupees per liter.