Pakistan Has No Strategic Oil Reserves, Only 5-7 Days of Crude Stock Available: Ali Pervaiz Malik

Federal Minister for Petroleum Ali Pervaiz Malik has revealed that Pakistan does not maintain any strategic oil reserves and is entirely dependent on limited commercial stocks.

Speaking in a television interview, the minister disclosed that refineries in the country hold crude oil reserves sufficient for only 5 to 7 days, while oil marketing companies have stocks of refined petroleum products for 20 to 21 days.

He explicitly contrasted Pakistan’s situation with India, stating that unlike India, Pakistan cannot release 60 to 70 days of oil reserves at short notice with a single government decision.

The remarks come at a critical time as global crude oil prices have surged above $120 per barrel amid escalating US-Iran tensions and fears over disruptions in the Strait of Hormuz. In Pakistan, fuel prices are feared to climb close to Rs400 per liter, triggering panic buying and long queues at petrol pumps across the country.

The minister informed that the government has constituted a working committee to establish strategic oil reserves. The plan aims to build at least 30 days of crude oil stock, but it will require hundreds of millions of dollars and may take several months to implement.

Experts warn that Pakistan’s limited foreign exchange reserves and ongoing economic challenges could worsen the impact of this crisis. In contrast, India is in a relatively stronger position due to its Strategic Petroleum Reserve (SPR), which allows it to release emergency stocks quickly.

The government has appealed to citizens to avoid unnecessary travel and use fuel judiciously. However, opposition leaders and analysts argue that the lack of long-term planning in the energy sector has left the country vulnerable.

This situation has raised serious questions about Pakistan’s energy security as the nation braces for further increases in fuel prices in the coming days.