The government on Thursday warned against hoarding, illegal storage and smuggling of petroleum products as it continued to closely monitor fuel supplies amid an evolving regional energy situation . The warning came during a meeting of the committee constituted by the prime minister to monitor petrol prices in the wake of the emerging situation in the region. The meeting was chaired by Finance Minister Senator Muhammad Aurangzeb at the Finance Division. The committee reviewed developments in the energy sector and assessed national preparedness measures, including the availability of petroleum products across the country. Officials informed the meeting that national petroleum reserves remain at comfortable levels, with sufficient cover available for key products and no immediate concern regarding availability. However, the committee noted that the regional and global energy situation remains fluid and uncertain, requiring continued vigilance as global supply chains and shipping routes face heightened risk and cost pressures. Read More: Govt says petroleum stocks comfortable amid regional uncertainty Members were also briefed on international oil market conditions, including movements in global benchmarks, freight and insurance costs, maritime routes and the risk of congestion at key global chokepoints. The committee reviewed different supply and pricing scenarios to ensure preparedness under various contingencies and maintain stability in domestic energy supplies. It noted that “war premium” dynamics and increased competition for energy cargoes, particularly in Asian markets, could put pressure on the country’s external account if volatility persists. The meeting also discussed efforts to strengthen supply assurance through diversified sourcing and logistics arrangements. Updates were shared on diplomatic and commercial engagements with friendly countries and supplier partners to secure additional crude and refined product volumes through alternative routes and ports, including options outside high-risk corridors. Shipping and operational measures were also considered to minimise supply delays, including facilitation of timely berthing and the use of available national shipping capacity where feasible. Read More: Cabinet committee to meet daily as govt tightens oversight of energy markets To maintain orderly market conditions, the committee discussed enforcement measures to deter hoarding, illegal storage and diversion of petroleum products through coordinated action by provincial administrations in collaboration with the Oil and Gas Regulatory Authority (OGRA) and other relevant agencies. The committee emphasised that preventing outward smuggling and ensuring uninterrupted domestic distribution would remain a top operational priority, adding that strict action would be taken against violations. Finance Minister Aurangzeb said the government’s foremost objective was to ensure uninterrupted availability of petroleum products across the country, stressing that supply availability would remain the primary driver of policy and operational decisions. He said the government was managing the situation through a structured governance mechanism, including daily monitoring, scenario planning and coordinated decision-making, adding that any international price pressures would be handled through established mechanisms aimed at maintaining market stability. The committee also reviewed the LNG and LPG supply situation, including shipment schedules, terminal operations and potential supply chain risks, while discussing contingency options to manage demand if disruptions persist. It was decided that the committee would finalise its recommendations and submit them to the prime minister along with a comprehensive implementation plan covering supply assurance, enforcement, pricing and conservation measures. The committee will continue to meet daily to review stock positions and supply chain developments. The meeting was attended by Petroleum Minister Ali Pervaiz Malik, National Food Security Minister Rana Tanveer Hussain, Commerce Minister Jam Kamal Khan, Information Minister Attaullah Tarar (virtually), Minister of State for Finance Bilal Azhar Kayani, SBP Governor Jameel Ahmad, chief secretaries of provinces and senior officials from relevant ministries and regulatory bodies.