Federal Minister for Petroleum Ali Pervaiz Malik said the decision was taken on the instructions of Prime Minister Shehbaz Sharif, who directed that gas prices should remain stable to ease pressure on the public.

According to the minister, steady reforms have helped stop the further buildup of circular debt in the gas sector, allowing the government to avoid passing costs on to consumers.

Speaking at a meeting of the National Assembly’s Standing Committee on Petroleum, chaired by Mustafa Mahmood, the minister said the gas sector’s circular debt currently stands at around Rs 3 trillion.

He noted that nearly Rs 1.7 trillion of this amount is interest, but added that the key point is that the debt is no longer growing. ‘If the debt had continued to rise, a price hike would have been unavoidable,’ he explained.

Ali Pervaiz Malik highlighted Pakistan’s long term LNG agreement with Qatar, calling it a relationship tested in difficult times. He said that even when global LNG prices surged to as high as $30 per unit, Qatar continued to supply gas under agreed terms. ‘This consistency helped Pakistan ride out a tough phase.’ he said, adding that the government values this partnership.

The minister also shed light on uneven gas demand from the power sector, noting sharp swings throughout the day. He explained that demand can be as high as 800 MMCFD in the morning but drops significantly by midday. Such shifts, he said, make planning and supply management more complex.

On exploration, the minister shared that Turkish Petroleum is preparing for offshore drilling in the Indus Basin, with Pakistani companies participating through joint ventures. He confirmed that no local gas field is currently shut down, signaling stability in domestic production.

During the meeting, committee members also raised concerns over the use of Corporate Social Responsibility (CSR) funds. Lawmakers said the existing policy is not delivering meaningful results and stressed that CSR funds should be used more effectively, including for practical projects like providing solar systems.

Overall, the decision to hold gas prices steady is being welcomed as a small but important relief for consumers, especially at a time when the cost of living remains a daily concern. The government hopes that continued reforms will keep the sector on a more balanced and predictable path.