ISLAMABAD: The government has set June 2027 as an interim target to deregulate petrol prices as part of planned reforms to the country’s petroleum pricing mechanism.
According to the report, the decision was taken during a meeting of the Petroleum Pricing Committee, where preparations for major reforms in the pricing system for petroleum products were discussed.
The committee proposed linking the petroleum pricing formula more closely to market conditions as part of the move towards deregulation.
The meeting also decided to develop rules to manage sharp fluctuations in diesel prices. Officials stressed the need to protect consumers from sudden changes in petroleum prices and minimise the impact of market volatility.
The committee also approved a new methodology for the Inland Freight Equalisation Margin (IFEM), an element of the petroleum pricing framework.
Under the revised approach, Pakistan has set June 2027 as the interim target for moving towards deregulated petrol prices, subject to the implementation of the planned reforms and pricing mechanism.
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