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Petrol pricing revised to shield consumers
Refineries must surrender the price gap as a levy, and any savings will go only to consumers, with a possible Rs15-per-litre cut, officials said.
- On October 30, Pakistan's federal government revised the petrol pricing mechanism, directing refineries to surrender the difference between import and ex-refinery prices as a petroleum levy to reduce retail costs for consumers.
- Escalating tensions between Iran and the United States forced Pakistan to abandon its fortnightly pricing system, shifting first to weekly and then daily adjustments as the government managed volatile international oil markets.
- Petroleum Minister Ali Pervaiz Malik stated that more than 12 to 13 million deserving people receive subsidised petrol at pre-war prices, as the government avoids subsidising fuel for wealthy households owning expensive vehicles.
- Four refineries, including Attock Refinery, National Refinery, and Pakistan Refinery, demanded immediate withdrawal of the revised mechanism, warning it could cause losses up to Rs49 per litre and threaten sector investment.
- These companies cautioned that the new formula could delay refinery upgradation projects and disrupt local production, urging the government to restore the pricing structure in place before October 31.
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Pakistan holds off Rs15-per-litre petrol increase, says petroleum Minister
ISLAMABAD: Pakistan has prevented a planned Rs15-per-litre increase in petrol prices, with the cost being absorbed by oil refineries following the prime minister’s instructions, Petroleum Minister Ali Pervaiz Malik said. Speaking at a press conference in Islamabad alongside Information Minister Attaullah Tarar, Malik said the government had agreed with refineries...
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Total News Sources13
Leaning Left0Leaning Right2Center2Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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