Ogra

The government may reintroduce fuel conservation measures due to rising oil prices and foreign exchange pressures from Middle East hostilities. Petrol and diesel prices will now be revised only on working days, with Ogra publishing detailed calculations online. The government retains control over various levies and duties.

The government will fix fuel prices daily due to fluctuations in international markets caused by renewed US-Iran hostilities in the Persian Gulf. Petroleum Minister Ali Pervaiz Malik stated that Ogra will determine prices based on a seven-day international market average and publish factors influencing them, aiming to increase transparency.

The article discusses the misplacement of the regulation vs. deregulation debate in Pakistan, highlighting overregulation in the formal sector and weak enforcement in the informal sector as key issues. It emphasizes the need for evidence-based regulation to ensure fair competition and consumer protection, particularly in the energy sector where reforms have failed due to conflicts between ministries and regulators, and appointments based on loyalty over expertise.