Oil Companies Advisory Council (OCAC)
Coverage of Oil Companies Advisory Council (OCAC) in the Nexus archive.
- Daily fuel price adjustments to curb market abuse, ensure fair prices: petroleum minister
Petroleum Minister Ali Pervaiz Malik announced daily fuel price adjustments to reduce market abuse and ensure fair pricing for consumers. The reform, approved by the federal cabinet, shifts from weekly to daily pricing based on international market fluctuations and aims to promote transparency and competition in Pakistan’s petroleum sector.
- Weekly oil pricing mechanism to stay
Pakistan's Petroleum Division assured oil firms that the weekly pricing mechanism would continue, basing future petrol and diesel prices on recent import premiums to minimize losses. Industry leaders criticized frequent policy changes for eroding profitability and deterring foreign investment, while demanding restoration of the pre-war pricing formula.