Govt invites stakeholder feedback on transition to weekly oil pricing

By Shahzad Paracha

ISLAMABAD: The federal government has initiated a process to gather input from stakeholders regarding the potential shift from fortnightly to weekly oil pricing. In a move aimed at enhancing transparency and efficiency in the pricing mechanism, the Oil & Gas Regulatory Authority (OGRA) has dispatched letters to concerned parties, inviting their comments on the proposed shift.

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Sources indicate that think tanks and policymakers are currently deliberating the possibility of transitioning from the existing fortnightly pricing structure to a more frequent weekly system for petroleum products. As part of this assessment, stakeholders are encouraged to provide their comprehensive feedback, highlighting both the advantages and disadvantages of such a transition.

The letter from OGRA emphasises the importance of meaningful contributions from stakeholders, urging them to submit their views within a stipulated timeframe of five working days from the issuance of the communication. This proactive approach by the government underscores a commitment to engage with industry participants and experts, ensuring a well-informed decision-making process in the realm of oil pricing policies.