ISLAMABAD: Petroleum Minister Musadik Malik assured that 66 percent of gas consumers remain unaffected by recent tariff hikes, thanks to the tiered pricing system. Addressing a parliamentary committee chaired by Syed Mustafa Mehmood, Malik explained that indiscriminate reductions in gas prices would only worsen the country’s circular debt.
He emphasized the importance of maintaining balanced tariffs, noting that targeted subsidies are crucial for managing financial losses while protecting low-income households.
During the discussion, Malik also addressed concerns about the management of state-owned petroleum companies, clarifying that three firms have been transferred to a sovereign wealth fund, with no plans to dissolve it, as some committee members had questioned.
The minister further highlighted ongoing efforts to promote the gemstone sector, particularly in Gilgit-Baltistan and Azad Jammu and Kashmir, focusing on curbing smuggling and enhancing value addition through technology transfer and workforce development.
Regarding gas supply challenges, especially in Balochistan, Malik acknowledged issues related to theft and outdated infrastructure. He outlined government initiatives to replace old pipelines and target regions notorious for gas pilferage, ensuring that the majority of consumers remain shielded from additional tariff burdens.
