ISLAMABAD – Federal Petroleum Minister Ali Pervaiz Malik has issued an important statement regarding the diesel pricing formula.
In his statement from the federal capital, he clarified that the revision in the diesel pricing mechanism is not the result of any external pressure. Instead, it is based on a mutual agreement between the Petroleum Division and refineries.
He said that an interim formula was developed after consultation with a research team. According to him, refineries are expected to move towards upgradation and complete deregulation, and it is necessary to provide them fair pricing in line with international standards.
The minister added that fair pricing would help bring local refineries at par with their Indian counterparts, while also aiming to increase the production of value-added petroleum products.
Ali Pervaiz Malik further stated that increased competition would help protect consumer interests. He emphasized that policy continuity is essential for Pakistan’s economic stability and urged stakeholders to avoid narrow political thinking and make decisions in the national interest.
