Pakistan Fuel Prices Remain Lower Than Several Regional Countries, Says Petroleum Minister

Petroleum Minister Ali Pervaiz Malik has stated that Pakistan's petrol prices remain lower than those in several regional countries, including Bangladesh, Sri Lanka, and Türkiye, while remaining close to fuel rates in India.

The remarks were made during a committee meeting reviewing Pakistan's petroleum pricing mechanism and discussing measures to improve transparency and strengthen the country's energy sector.

OGRA Asked to Publish Daily Fuel Pricing Data

To improve public understanding of fuel price calculations, the minister announced that OGRA has been advised to publish daily Platts pricing data on its official website.

Key Objective:

• Increase transparency in petroleum pricing
• Improve public access to fuel market information
• Enhance confidence in fuel price adjustment mechanisms

Petroleum Price Stabilisation Fund Under Review

The committee also discussed measures to strengthen the Petroleum Price Stabilisation Fund, which can help manage fluctuations in fuel prices and support market stability.

Focus on Digitalisation and Local Production

Several important reforms were also reviewed, including:

Digitisation of the Oil Supply Chain

• Improved monitoring
• Better efficiency
• Enhanced transparency

Boosting Local Diesel Production

• Support for refinery upgrades
• Reduced dependence on imports
• Stronger energy security

Next Steps

Officials stated that the committee will continue consultations before presenting its final recommendations to the Prime Minister after the next meeting.

The proposed reforms are aimed at improving transparency, efficiency, and long-term sustainability within Pakistan's energy sector.

Conclusion

The government's focus on fuel pricing transparency, digitalisation, and local fuel production reflects broader efforts to strengthen Pakistan's petroleum sector. Stakeholders will be watching closely as final recommendations are prepared for implementation.

Disclaimer: This article is for informational purposes only and is based on publicly available reports. Policies and recommendations may change following future government decisions.