Friday, June 27, 2025
-Advertisement-

Govt to Deregulate Petroleum Prices, Granting Oil Companies Pricing Power

- Advertisement -

The Pakistani government has decided to relinquish control over petroleum product prices, with Prime Minister Shehbaz Sharif ordering the removal of governmental authority in setting these prices.

In response to the Prime Minister’s directive, the Petroleum Minister has scheduled a critical meeting for Thursday to discuss the implications and next steps.

- Advertisement -

Prime Minister Sharif has tasked the Chairman of the Oil and Gas Regulatory Authority (OGRA) with evaluating the impact of price deregulation and creating an implementation framework. This framework will be presented to the Prime Minister for final approval.

The government plans to grant oil marketing companies the authority to set prices in a phased approach.

Prime Minister Sharif highlighted the criticism the government faces when prices rise, noting the lack of public appreciation when prices fall.

However, petroleum dealers have opposed this move, arguing that it could lead to unfair profiteering by oil marketing companies.

- Advertisement -

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Latest stories

-Advertisement-

Highlights of the Week
Related

Muslim Socialist Zohran Mamdani Poised to Win NYC Mayoral Primary

33-year-old state legislator Zohran Mamdani is on track to...

Dubai’s best hi-teas you can’t miss!

Looking for the coolest spots to chill this summer?...

Pakistan Braces for First Monsoon Spell as Authorities Warn of Urban Flooding, Landslides

Pakistan’s first monsoon spell of the season begins today,...

Mozambique’s 50th independence anniversary celebrated

Karachi witnessed a vibrant diplomatic gathering, as the Honorary...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!