Summary Attaullah Tarar said that government’s transition to daily fuel pricing mechanism would ensure transparency and allow immediate impact of international price fluctuations to be passed on to consumers.
ISLAMABAD (Dunya News) - Federal Minister for Information and Broadcasting Attaullah Tarar said on Friday that the government’s transition to a daily fuel pricing mechanism would ensure transparency and allow the immediate impact of international price fluctuations to be passed on to consumers.
Talking to media alongside Petroleum Minister Ali Pervaiz Malik, Tarar outlined the strategic efforts being made to stabilize the fuel supply and protect the public from global market volatility.
Under the new system, the Oil and Gas Regulatory Authority (OGRA), acting as the sector’s regulator, would publish the price daily on its website, he noted.
The minister said Pakistan is shifting from a one-week average to daily pricing to align with international standards, citing examples of some countries that swiftly adjust domestic prices in tandem with global oil rates.
Addressing concerns about market manipulation, Tarar clarified misconceptions regarding inflated profits for oil marketing companies, stating that such claims are contrary to the facts.
He emphasized that Prime Minister Shehbaz Sharif has issued strict directives to investigative and law enforcement agencies to exhibit zero tolerance for profiteering and hoarding.
Highlighting a historic precedent, he noted that extra profits were successfully reclaimed from oil marketing companies for the first time in Pakistan’s history.
Tarar also urged the media and the public to actively register complaints regarding hoarding directly through OGRA’s web portal to ensure corporate accountability.
The minister attributed the recent rise in domestic petroleum prices directly to ongoing geopolitical escalations.
He highlighted that the international community has acknowledged the relentless efforts of Prime Minister Shehbaz Sharif, and Chief of Army Staff and Chief of Defence Forces Field Marshal Asim Munir, in resolving the geopolitical crisis.
At the peak of global tensions, when the world witnessed severe petrol shortages and resorted to fuel rationing, he said, adding the prime minister proactively secured sufficient oil storage.
By arranging cargos through alternative routes outside the Strait of Hormuz, the government ensured uninterrupted supply, successfully sparing Pakistani cities and towns from shortages.
Fully realizing the burden of rising petrol prices, the government prioritized public relief by providing a substantial subsidy of Rs 129 billion to deserving citizens, he stressed.
The minister said special measures were taken to lower the petroleum levy during the height of geopolitical tensions to shield the public from bearing an extra financial burden.
Tarar said transitioning to electric bikes and vehicles is now inevitable and remains the best solution amidst changing global dynamics.
Appreciating the growing trend of electric vehicle adoption in Pakistan, he urged both the public and private sectors to actively participate in this vital shift.
Tarar expressed hope that Pakistan’s leadership would continue to play a constructive role in resolving the broader global crisis.
He welcomed healthy debate over oil prices but cautioned that discussions should remain focused on facts rather than political point-scoring, reiterating that the government’s utmost priority is providing maximum relief to the masses.
