Why Is Pakistan Deregulating Fuel Prices? | Dawn News English
criticism has been mounting against the
government for the rising prices of
petroleum products despite constraints
on altering fixed tax rates dictated by
donors currently the government’s role
is limited to announcing fuel prices
every fourth night reflecting
International Market
[Music]
fluctuation Amit soaring fuel prices and
escalating concerns over the influx of
smuggled oil products Pakistan
government is fast tracking the
deregulation of petroleum prices the aim
to shift public scrutiny onto oil
marketing companies in a recent
directive the petroleum division has
urged the oil and gas regulatory
authority to present an analysis of the
implications of De regulating petroleum
products within 3 days this move comes
on the heals of instructions from the
prime minister’s office for an urgent
finalization of a deal Reg ation
framework for the petroleum sector
criticism has been mounting against the
government for the rising prices of
petroleum products despite constraints
on altering fixed tax rates dictated by
donors currently the government’s strle
is limited to announcing fuel prices
every fourth night reflecting
International Market fluctuations the
oil industry has lustered the government
for its LAX approach to curbing rampant
smuggling with severely impacts market
share profitability and government
revenue plans to deregulate petrol and
diesel prices would mean an end to
uniform pricing across the country with
oil companies setting prices
independently for different regions the
move is voiced to empower regulatory
bodies like augra and the competition
Commission of Pakistan to ensure product
quality availability and competitive
markets amidst concerns of collusion and
carliz however deregulation may lead to
significant price disparities between
cities and oil companies with consumers
NBS and refineries enjoying cheaper
rates compared to those further away
this development arrives Amit warnings
from the oil companies advisory Council
regarding the detrimental effects of
smuggling on government revenue and
investment prospects in refiner
Expansion Project
Amidst soaring fuel prices and escalating concerns over the influx of smuggled oil products, Pakistan’s government is fast-tracking the deregulation of petroleum prices. The aim? To shift public scrutiny onto oil marketing companies.
—————————————————————————————————————————
Dawn News English is your window into the latest news, insight, and features from South Asia and beyond.
Official Facebook: https://www.facebook.com/dawndotcom/
Official Twitter: https://twitter.com/dawn_com
Website: www.dawn.com
Official Instagram: https://www.instagram.com/dawnnewsenglish
#Pakistan #FuelPrices #Deregulation #OilIndustry #Government #Ogra #CompetitionCommission #pmshehbazsharif #economy #oil #oilcompany #news #latestnews #dawnnewsenglish #dawnnews