Highlights:
- The country has sufficient reserves of furnace oil, diesel, and motor gasoline for 2 months.
- Due to raised prices, fuel demand has decreased
- The sufficient fuel reserves will lower the need for imports, positively impacting the rupee price
On July 21, at a press conference, Finance Minister Miftah Ismail stated that the country has sufficient reserves of furnace oil, diesel, and motor gasoline for 2 months.
Miftah Ismail addressed the media alongside Defence Minister Khawaja Muhammad Asif. He stated that healthy reserves suggest we do not need to import fuel, reducing the pressure on the Pakistani rupee.
He also added that due to raised prices, fuel demand has decreased which will positively impact the “lowering rupee price” in the market.
He further added that the demand for dollars will be dealt with by ensuring the enhanced supply of dollars.
He added that the dollar prices are coming down as the government has announced that it will complete its period, making the political condition in the country more stable.
