Pakistan is going to start changing fuel prices every day. The Oil and Gas Regulatory Authority, which is also known as OGRA will tell people what the new prices of petrol and diesel are each day. This is what Petroleum Minister Ali Pervez Malik said when he talked to the press with Information Minister Attaullah Tarar in Islamabad.
The way it will work is that OGRA will look at what petrol and diesel cost on the market over the last seven days. They will use this information to figure out the prices. Then they will let everyone know what the new prices are every day.
Petroleum Minister Ali Pervez Malik said that the government will not have to approve the prices every time they change. OGRA will be in charge of letting people know what the new prices of petrol and diesel are. They will put this information on their website so everyone can see it. Pakistan will be using this system in Islamabad and everywhere else, in the country. The Oil and Gas Regulatory Authority will make sure that people know what they are paying for petrol and diesel every day.
He said the reason for this change is to make it clear how prices are set. He thinks people will understand how petrol and diesel prices are decided.
The government is slowly making petroleum products less controlled Ali Pervez Malik said. He denied that this change will make people pay more.
The minister talked about people complaining that they are being overcharged at gas stations. He said Prime Minister Shehbaz Sharif has told the authorities to take action against people who are taking money. He said they will take action if petrol is sold above the set price.
On the topic of fuel being available the minister said there is no shortage now. He added that Pakistan has petrol stock for one and a half, to two months.
