Petroleum Pricing Committee Deliberates on Measures for Transparent Fuel Pricing
UrduPoint / Pakistan Point News - 3rd Sep, 2026
ISLAMABAD (APP - UrduPoint) The Federal Minister for Petroleum Ali Pervaiz Malik, chairing the Committee on Petroleum Pricing, held a meeting on Thursday to review the petroleum pricing framework. The committee discussed ways to make fuel pricing more transparent and predictable, while safeguarding consumers from sudden price fluctuations.
Key Decisions:
- Diesel Pricing: Approved guiding principles for rule-based intervention during emergencies, outlining triggers and corrective measures.
- Petrol Pricing: Reviewed recommendations for the petrol pricing formula, aiming for petrol deregulation by June 2027. This would ensure a gradual shift to competitive market-based pricing.
- IFEM Mechanism: Agreed on a revised methodology for calculating Independent Fuel Price Index (IFEM) and directed OGRA to complete FY26 audit by CY26 end.
- OMCs Performance: Directed OGRA to submit recommendations on consolidating and improving the performance of existing Oil Marketing Companies (OMCs), focusing on best practices and technology adoption.
- Price Stabilization Fund: Instead of a stabilization fund, the committee concluded that maintaining adequate fuel reserves would be more suitable given the impending market deregulation.
Next Steps:
- A subcommittee headed by Naeem Ghauri will meet with the Chairman FBR to review taxation policies in light of changing market dynamics.
The meeting attended by other committee members, representatives from OGRA, FBR, Finance Division, KPMG, and officials from the Petroleum Division.