A high-level committee set up on the directives of Prime Minister Shehbaz Sharif held its first meeting under Finance Minister Muhammad Aurangzeb to assess the situation.

Officials said the cabinet committee decided to conduct daily reviews of petroleum stocks and prices to ensure uninterrupted supply and effective market oversight.

The finance ministry said Pakistan currently holds adequate reserves of petroleum products and that the country’s energy supply chain remains stable despite global uncertainty.

However, officials described the situation in the Strait of Hormuz and Bab al-Mandab as a major risk to global energy flows. They warned that prolonged tensions could disrupt supplies.

The committee will meet daily to monitor stock levels and price movements in real time. LNG and LPG shipments and terminal operations were also reviewed.

Aurangzeb directed relevant departments to improve coordination and ensure accurate verification of reserves.

He said any impact of global price changes would be passed on in a transparent and orderly manner.

The government assured the public that energy supplies are secure and urged people not to panic.

Meanwhile, gas prices have also surged in international markets amid escalating Middle East tensions.

After QatarEnergy reportedly suspended gas supplies, European markets saw prices rise by nearly 50%, reflecting mounting pressure on global energy availability.