Govt weighs activating fuel saving plans

Pakistan's government is weighing the reintroduction of fuel conservation and austerity measures, potentially as early as this week or next. This move is prompted by escalating oil prices, driven by renewed hostilities in the Middle East, and the subsequent pressure on the nation's foreign exchange reserves.

A senior government official indicated that the frequency of petroleum product price revisions could be reduced from weekly to four days a week. Under this proposed system, prices would be set Monday through Friday, remaining unchanged over the weekends and on Mondays. This shift, while presented as a move towards deregulation, effectively centralizes price control during these periods.

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Petrol, diesel prices to be revised only on working days

Prime Minister Shehbaz Sharif has reportedly discussed these conservation measures, with a formal decision anticipated from the federal cabinet soon. The Oil and Gas Regulatory Authority (Ogra) will continue to calculate price changes, but the Petroleum Division will issue notifications. Ogra will also begin publishing its working details online, a step towards greater transparency in the pricing mechanism.

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Govt to retain control over levy, climate levy, customs duty, deemed duty, margins