Pakistani Minister Voices Anguish: “We Don’t Even Have a Single Day’s Worth of Petrol—But India…”

New Delhi: The conflict in the Middle East has triggered a global energy crisis. Inflation has reached a critical peak in numerous countries. In Iran itself, millions of people have lost their jobs, and its economy is in rapid decline. Meanwhile, another nation—Pakistan—is also grappling with a severe crisis. Now, its Petroleum Minister, Ali Malik, has himself exposed the dire state of his country’s crumbling infrastructure.

Pakistani Minister Ali Malik stated that Pakistan does not possess strategic petroleum reserves sufficient for even a single day. In an interview with a Pakistani TV channel, the minister expressed his distress, revealing that the country holds commercial crude oil reserves sufficient for only 5 to 7 days.

India Can Secure Oil with a Mere Signal
Elaborating on the matter, the minister said, “We do not have any strategic oil reserves… we possess only commercial reserves. We have enough crude oil to last for five to seven days, and the refined products currently held by Oil Marketing Companies (OMCs) would last for only 20 to 21 days. We are not like India, which maintains reserves sufficient for 60 to 70 days and can procure oil from any source with just a single signature.”

Malik noted that Pakistan has conducted research on this subject, and an independent consultant has submitted a detailed report outlining how Pakistan could potentially utilize strategic reserves. The minister explained that, to date, no action has been taken on this report due to the exorbitant costs involved in operationalizing these oil reserves—costs that could run into millions of dollars.

Procuring Oil Proving Costly for Pakistan
The minister further remarked that crude oil prices in Dubai have never before reached the $170 mark, a phenomenon that underscores the heightened volatility currently prevailing in global markets. He stated that the Shehbaz Sharif government is striving to alleviate the public’s hardships and is making efforts to provide subsidies wherever feasible.

India’s Petroleum Reserves
Notably, the total capacity of India’s Strategic Petroleum Reserves (SPR) stands at 5.3 million metric tonnes (MMT), which is equivalent to approximately 369.2 million barrels. In contrast, Pakistan possesses no strategic petroleum reserves and holds only limited commercial reserves. In light of the risks associated with the Strait of Hormuz, Islamabad has announced plans to establish reserves sufficient for up to 90 days.