Pakistan Shifts to Daily Petroleum Pricing System: Minister Ali Pervaiz Malik Chairs Key Consultative Meeting

ISLAMABAD – In a major step toward structural economic reforms, the Federal Government of Pakistan is preparing to transition to a daily petroleum pricing mechanism.

Federal Minister for Petroleum, Ali Pervaiz Malik, chaired a high-level consultative meeting on Saturday to discuss the implementation of the new system with key stakeholders in the oil industry.

The session saw active participation from senior officials of the Oil and Gas Regulatory Authority (OGRA), the Oil Companies Advisory Council (OCAC), the Oil Marketing Association of Pakistan (OMAP), local refineries, Oil Marketing Companies (OMCs), and the Petroleum Division.

During the meeting, industry leaders welcomed the government’s initiative, viewing it as a positive move toward modernization.

A Move Towards Transparency and Deregulation

Speaking on the occasion, Petroleum Minister Ali Pervaiz Malik emphasized that the new daily pricing mechanism will eliminate market anomalies.

“Under the new system, petroleum prices will be determined through a transparent formula that reflects real-time market conditions. This will significantly reduce the scope for illicit profiteering, market exploitation, and windfall gains,” The Minister stated

He further added that the reform aims to shield the general public from artificial price fluctuations often caused by political expediencies.

According to the official briefing, these reforms are a core component of the government’s phased de-regulation strategy, being executed under the special directives of the Prime Minister to gradually minimize state intervention in the oil sector.

OGRA Fully Prepared for Implementation

Representatives from OGRA informed the chair that the regulatory body is fully equipped to deploy the daily pricing model. OGRA is currently upgrading its digital infrastructure to ensure the real-time, timely publication of oil prices across the country.

The forum also thoroughly reviewed operational logistics essential for a seamless transition, including:

• Supply chain management under a daily fluctuating model.
• Inventory and stock management for OMCs and refineries.
• Real-time data availability to ensure absolute transparency.

Special Committee Formed for Technical Resolution

To address practical challenges and ensure a smooth rollout, Minister Ali Pervaiz Malik announced the formation of a dedicated committee task force. This committee will work to resolve all operational and technical hitches through mutual consensus.

The Minister directed the Petroleum Division and OGRA to hold further technical sessions with industry stakeholders to finalize the Standard Operating Procedures (SOPs).

Concluding the meeting, Malik reiterated that while the government remains fiercely committed to safeguarding public interest, it is equally dedicated to ensuring the long-term sustainability and stability of Pakistan’s petroleum industry.