UK assures support to Pak energy sector
Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with British High Commissioner Jane Marriott to discuss the evolving regional situation, its implications for global energy markets, and avenues for strengthening bilateral cooperation in Pakistan's energy and minerals sectors, according to an official statement issued on Tuesday.
During the meeting, both sides exchanged views on the regional crisis and its impact on petroleum supply chains, price volatility and overall energy security, with particular focus on how global price fluctuations affect Pakistan's import-dependent energy sector and the government's strategy to manage these external shocks.
The high commissioner appreciated Pakistan's constructive diplomatic role and thanked the government for its mediation efforts aimed at easing tensions and promoting global peace, noting that Pakistan has effectively utilised its goodwill and relations with key stakeholders, including the United States and Iran, to facilitate dialogue during a period of heightened regional instability.
Marriott also discussed Pakistan's petroleum supply situation and commended the government's efficient handling of the supply chain, observing that despite international uncertainty, Pakistan successfully ensured uninterrupted availability of petroleum products and avoided market distortions that could have disrupted industrial activity and consumer access to fuel across the country.
Malik stated that Pakistan remains committed to supporting peace and stability through dialogue and diplomatic engagement, emphasising that the government is actively working to facilitate a peaceful resolution to the crisis.
Speaking on domestic energy management, the minister noted that Pakistan had taken timely measures to maintain supply continuity. "We do not want to repeat the path of populism, as witnessed in 2022, which can undo hard-earned economic achievements," he said, adding that the government prioritised keeping the supply chain intact, as a supply disruption would have been worse than any price shock for businesses and households relying on consistent fuel availability.
Malik expressed gratitude to friendly countries including Saudi Arabia, the United Arab Emirates and Oman for facilitating petroleum supplies during the period of uncertainty. Recalling Qatar's support in the past, he noted that Qatar supplied LNG to Pakistan at about $10 when global prices were near $30, and also demonstrated cooperation by renegotiating contractual arrangements to provide relief to the energy sector when international markets were experiencing extreme volatility.
Highlighting the role of Pakistan's domestic exploration and production sector, the minister praised local E&P companies for stepping up during the challenging period to maintain production levels and support national energy security. He noted that fertiliser prices in Pakistan are one third of those in neighbouring countries, reflecting the benefits of indigenous gas production for key industrial inputs. He further shared that the government continues to protect vulnerable segments of society through targeted subsidies while ensuring that industrial and agricultural consumers receive adequate supply to sustain economic activity. The high commissioner underscored the importance of long-term cooperation between the two countries in the energy domain and highlighted the technical collaboration between the British Geological Survey and the Geological Survey of Pakistan.
Malik acknowledged the UK's continued support for Pakistan and discussed prospects for collaboration in regulatory and institutional strengthening, including capacity building of the Oil and Gas Regulatory Authority (Ogra). The British side expressed keen interest in supporting such initiatives.
Both sides agreed to further strengthen bilateral engagement through technical cooperation and institutional partnerships aimed at promoting energy security, investment facilitation and sustainable development in Pakistan's energy and mineral sectors.