ISLAMABAD: Prime Minister Shehbaz Sharif has called for stringent measures to tackle petrol smuggling in Pakistan.

Speaking at a review meeting on the country’s economic situation and the digitisation of the Federal Board of Revenue (FBR), the Prime Minister emphasized the need for stronger actions to curb the illegal fuel trade.

In the meeting, PM Sharif highlighted the positive impact of the crackdown on smuggled fuel and the significant reduction in petrol and diesel prices, which led to a 15% year-on-year increase in petroleum sales in Pakistan. November 2024 witnessed the highest level of petroleum sales in 25 months, with 1.58 million tonnes sold.

This surge in sales signals a recovery in the energy market, with the Prime Minister calling it a highly encouraging development for the country’s economy.

The Prime Minister also instructed the quick completion of video analytics installations in the cement industry, which is part of ongoing digitisation reforms within the FBR.

He noted that the digitisation process marks a key milestone in the government’s economic reforms, with initial positive results already emerging.

Meanwhile, Federal Minister for Petroleum, Musadik Malik, clarified that there was no new agreement with Russia for the purchase of crude oil. While discussions on crude oil imports from Russia are ongoing, no new deals or shipments have been finalized.

The previous attempt to procure oil through a public sector company did not materialize after the first shipment. Malik also added that Russia had expressed interest in offshore oil and gas exploration in Pakistan, with any future agreements made in the national interest.

Published in The Daily National Courier, December, 06 2024

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