The federal government has started reviewing reforms aimed at making Pakistan’s petroleum pricing system more transparent, efficient and stable.
The proposals were discussed during the fourth meeting of the Petroleum Pricing Committee, established on the directives of Prime Minister Shehbaz Sharif to evaluate and improve the country’s fuel pricing mechanism.
The meeting was chaired by Federal Minister for Petroleum Ali Pervaiz Malik, with officials reviewing international best practices and assessing the current petroleum pricing framework.
One of the key proposals discussed was increasing public access to the information used to determine fuel prices in Pakistan.
Under the proposal, the Oil and Gas Regulatory Authority (OGRA) would publish Platts benchmark prices on its official website on a daily basis.
Platts prices are internationally recognised benchmarks used by global energy markets to determine petroleum product prices. Making these benchmarks publicly available would allow consumers to better understand the factors influencing changes in local petrol and diesel prices.
Officials said the proposed reforms are intended to improve transparency, strengthen public confidence and align Pakistan’s petroleum pricing system with international standards.
The committee also reviewed additional measures aimed at enhancing the efficiency and stability of the existing pricing mechanism, with further consultations expected before any final decisions are implemented.
