Former prime minister Shahid Khaqan Abbasi has called for a major shift in Pakistan’s fuel pricing system, urging the government to deregulate petrol prices and allow market forces to determine rates.
Speaking at a press conference in Islamabad, Abbasi criticised inconsistent economic policies and said administrative control over fuel prices was not sustainable. He stressed that in most countries, petrol prices are set by market dynamics rather than government intervention.
His remarks came after recent fluctuations in fuel prices, where petrol rates were first sharply increased and then partially reduced through a cut in petroleum levy.
Abbasi argued that private sector companies should be allowed to import and sell fuel freely, without price controls. According to him, such deregulation would immediately improve market efficiency and create healthy competition.
He added that petrol and diesel cannot be sold below their actual cost, emphasizing that prices should reflect real market conditions rather than policy decisions.
⚡ Push for Electric Vehicles
In addition to fuel pricing reforms, Abbasi also highlighted the importance of promoting electric vehicles (EVs) in Pakistan. He said shifting towards EVs could reduce economic pressure by lowering dependence on imported fuel.
The former premier concluded that long-term economic stability requires consistent policymaking and structural reforms in the energy sector.
