Pakistan’s Interim Government to Implement Weekly Petroleum Price Revision

Pakistan's Interim Government to Implement Weekly Petroleum Price Revision

VoM News Desk | November 27, 2023 | 12:04 PM IST | Pakistan News | Follow on Google News

Pakistan’s Interim Government to Implement Weekly Petroleum Price Revision

Pakistan’s Interim Government to Implement Weekly Petroleum Price Revision

Pakistan’s interim government has taken a significant step by deciding to revise petroleum prices on a weekly basis, moving away from the current fortnightly pricing system. This change is aimed at addressing various challenges encountered by the oil industry, especially those related to inventory losses.

Regulatory Authority’s Consideration for Weekly Revisions

The Oil and Gas Regulatory Authority (OGRA) is considering the implementation of weekly revisions in fuel prices. This move is seen as a proactive approach to adapt to the dynamic changes in the global oil market and to provide a more responsive mechanism for price adjustments.

Consultation with Stakeholders

Before implementing this major change, the caretaker government is seeking input and recommendations from all relevant stakeholders, including the Petroleum Dealers Association. This consultative approach indicates the government’s commitment to making informed and collaborative decisions in the oil sector.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.