Pakistan Set to Deregulate Petrol Pricing System
Pakistan is poised to make significant changes to its petroleum pricing system, with the government considering a phased move towards deregulation. Under this plan, oil marketing companies would be allowed to determine petrol prices instead of having rates directly fixed by the government.
The Petroleum Pricing Committee has recommended June 2027 as a possible target for petrol deregulation. However, this date is not yet final and must be approved by the Prime Minister before any implementation timeline can be confirmed.
The proposed roadmap aims to make the pricing system more transparent, predictable, and competitive while limiting the impact of sudden price fluctuations on consumers. Once deregulated, individual oil marketing companies would determine their rates based on costs and market conditions, but regulatory oversight and competition rules would remain in place to prevent excessive profiteering and anti-competitive practices.