The government has formed a high-level committee to develop a weekly petroleum pricing formula. The move aims to pass global oil price reductions to consumers more quickly. The decision could affect millions of Pakistanis through changes in fuel costs and transportation expenses.
Petroleum Minister Ali Pervaiz Malik announced the development in an official statement. He said Prime Minister Shehbaz Sharif directed authorities to ensure timely public relief. According to the minister, falling international oil prices should benefit consumers without unnecessary delays.
The committee will design a transparent pricing mechanism for petroleum products. Ali Pervaiz Malik said the proposed formula will help consumers understand reasons behind price fluctuations. Moreover, officials will consult all stakeholders before finalizing the new framework.
Meanwhile, the minister credited the government’s diplomatic efforts for improving the overall environment. He said the Prime Minister, Field Marshal, Foreign Minister, and Interior Minister played important roles. Their coordinated efforts, he added, have helped strengthen Pakistan’s position during recent regional developments.
The minister also said the government is reviewing its energy security framework. Several initiatives are under consideration to protect national interests and strengthen energy supplies. Furthermore, he thanked industry stakeholders and the public for their cooperation during recent challenges in the energy sector.