Islamabad (Commerce Desk): The government is considering a new system for setting petroleum product prices on a daily basis, under which the Oil and Gas Regulatory Authority (OGRA) may be given the authority to determine prices. However, the organization representing petrol pump owners has expressed serious concerns over the possible decision.
According to media reports, the government is considering introducing a new daily price mechanism for petroleum products, after which the government’s role in the final determination of prices would be reduced.
Officials of the Petroleum Division said that under the proposed system, the Oil and Gas Regulatory Authority (OGRA) would set the prices of petrol, high-speed diesel, light diesel oil, and kerosene every night, while the new prices would come into effect from midnight.
The All Pakistan Petrol Pump Owners Association has rejected the proposal to change prices daily, stating that the system would not be acceptable to them.
According to the association, even the existing weekly pricing system has already created difficulties for petrol pump owners, affecting stock management, financial planning, and business stability. They said daily price changes could further increase these challenges.
Vice Chairman of the All Pakistan Petrol Pump Owners Association, Nauman Ali Butt, said that relevant stakeholders, especially petrol pump owners, are not being taken into confidence regarding this important decision. He added that consultation with all parties is necessary for the success of any policy.
The association has demanded that the government review the proposed daily pricing mechanism and formulate a balanced and workable policy after consulting petrol pump owners.