PM to announce decision on ‘work-from-home, online classes’ amid fuel supply concerns

2026-03-06 - 07:23

ISLAMABAD – Prime Minister Shehbaz Sharif is receiving a briefing on measures prepared by the Committee to Monitor Petrol Prices in the wake of the emerging situation in the region during the US-Israel war against Iran. The proposal includes a work-from-home policy and online classes for school and university students to help reduce fuel consumption, amid global oil supply disruptions caused by regional tensions. The proposal also includes revising petroleum prices on a weekly basis instead of the current fortnightly schedule. The prime minister is expected to announce a final decision in this regard today (Friday). A day earlier, Finance Minister Muhammad Aurangzeb chaired a meeting of the committee to deliberate on the evolving regional and global energy situation and undertook a detailed review of petroleum product stock positions across the country. Members were briefed that national reserves remain at comfortable levels, with sufficient cover available for key products, and that there is no immediate cause for concern regarding the availability of petroleum products. The Committee, however, noted that the situation remains fluid and uncertain, requiring sustained vigilance and prudent planning as global supply chains and shipping routes face heightened risk and cost pressures. A comprehensive briefing was also given on international oil market conditions, including movements in global benchmarks, freight and insurance costs, maritime and routing dynamics, and the risk of supply congestion at key chokepoints. The Committee reviewed multiple supply and pricing scenarios to ensure preparedness under different contingencies and to maintain stability in domestic energy supplies. In this context, the Committee noted that “war premium” dynamics and intensified competition for energy cargoes particularly in Asian markets could raise external account pressures if volatility persists.