Pakistan to introduce weekly petrol price change mechanism ending the Fortnight mechanism

Islamabad – The government of Pakistan is thinking of changing the current petrol price change mechanism to a new mechanism in which fuel prices will be changed every week.

In a new development, the interim government has decided that instead of changing the prices fortnightly, a new mechanism needs to be brought in. According to the new mechanism, prices of fuel products such as petrol and diesel will be revised after a 7-day time period instead of the current 14-day time period.

OGRA has already initiated conversations with the oil companies and petroleum dealers on this proposal.

All stakeholders have received a letter from the government to give their opinions, views and provide the necessary advantages and disadvantages of the proposal. However, on the other hand, the petroleum dealers have not expressed any positive response on the proposal stating that prices cannot be changed every week.

The association of petroleum dealers stated that the government should think thoroughly before taking such a decision, keeping the consequences in mind.

Earlier, the PTI government under the leadership of Imran Khan changed the mechanism from monthly to fortnightly to save the petroleum industry from inventory losses.