Pakistan’s government on Wednesday initiated a comprehensive review of the existing pricing structure for the oil and gas sector, a move aimed at tackling issues of affordability and sustainability.
The initiative was discussed during a high-level meeting of the Inter-Ministerial Committee, chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar in the capital.
Senator Dar reaffirmed the administration’s commitment to fostering greater transparency and efficiency within the nation’s energy markets. The committee delved into the pricing framework governed by the applicable petroleum policy regime, meticulously examining the prevailing mechanisms.
Potential reform options were explored during the session, with the primary objectives of improving sectoral performance, ensuring long-term sustainability, and making energy more affordable for consumers.
The meeting was attended by a host of senior officials, including the Federal Minister for Inter Provincial Coordination, the Minister for Power, and the Minister for Petroleum. Also present were the Minister of State for Finance Bilal Azhar Kayani, Special Assistant to the Prime Minister Tariq Bajwa, the Adviser on Privatization, the Head of the Power Sector Task Force, and the Chairman of the Federal Board of Revenue.