{
  "id": 5275390,
  "title": "Pakistan targets deregulating petrol prices by June next year",
  "url": "https://urgent.news/2026/09/03/pakistan-targets-deregulating-petrol-prices-by-june-next-year",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T07:32:00.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437755/pakistan-targets-deregulating-petrol-prices-by-june-next-year"
  },
  "original_language": "en",
  "account": "The government aims to deregulate petrol prices by June 2027 as part of a comprehensive overhaul of the petroleum pricing system, according to the Petroleum Pricing Committee. This reform seeks to shift towards market-based pricing, enhance transparency, and predictability in fuel costs, while shielding consumers from excessive price fluctuations. The Committee on Petroleum Pricing, led by Federal Minister for Petroleum Ali Pervaiz Malik, convened to evaluate the current petroleum pricing framework and deliberate on measures to streamline fuel pricing. Recommendations for the petrol pricing formula were reviewed, and a target date of June 2027 was set for petrol deregulation, ensuring a phased transition to competitive, market-driven pricing. The committee also agreed on steps to reinforce the existing pricing mechanism and intends to submit its final report to the Prime Minister for review and approval. For diesel prices, guidelines were established for potential rules-based intervention in emergencies, with defined triggers and corrective measures. The committee examined the current Indian Fuel Efficiency Mechanism (IFEM) and endorsed a revised calculation approach. OGRA pledged to finalize the IFEM audit for FY26 by the conclusion of CY26. Additionally, the committee tasked OGRA with providing written recommendations on consolidating and assessing the performance of existing Oil Marketing Companies (OMCs). The committee scrutinized a report from subcommittees on a benchmarked price stabilization fund against various global models and instructed the subgroup to further refine its proposals. However, the committee emphasized that maintaining sufficient fuel reserves would be preferable to establishing a stabilization fund amid deregulation. A subcommittee chaired by Naeem Ghauri was scheduled to meet with the Chairman of the Federal Board of Revenue (FBR) to assess whether the taxation framework requires revision, considering evolving market dynamics.",
  "summary": "The government is targeting June 2027 to deregulate petrol prices as part of a broader reform of the petroleum pricing framework aimed at moving towards market-based pricing, the Petroleum Pricing Committee said on Thursday. The Committee on Petroleum Pricing, chaired by Federal Minister for Petroleum Ali Pervaiz Malik, met to review the petroleum pricing framework and deliberate on measures to…",
  "key_points": [
    "Pakistan plans to deregulate petrol prices by June 2027",
    "Petroleum Pricing Committee led by Ali Pervaiz Malik evaluates current framework",
    "Guidelines for diesel prices established for emergency intervention"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Antara News Indonesia",
        "title": "Transjakarta targets June 2027 launch for Seribu Islands sea transport",
        "url": "https://urgent.news/2026/09/03/transjakarta-targets-june-2027-launch-for-seribu-islands-sea-transport",
        "published": "2026-09-03T05:44:09.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}