Noted legal expert, CEO of HB Corporate Legal Consulting, and President of Voice Against Corruption, Ahsan Bari Channa Advocate, has unveiled a comprehensive policy framework aimed at addressing Pakistan’s soaring fuel prices and growing sovereign debt.
Ahsan Bari, in his ‘white paper’ called for a shift from heavy reliance on public taxation to a model based on sovereign asset optimization, according to a statement released today. The white paper says with petrol prices exceeding PKR458 per litre, the report identifies the Petroleum Development Levy (PDL) as a major contributor to the burden on consumers.
It proposes a legal cap on the levy, alongside a price-smoothing mechanism to ensure that fuel costs remain stable even when international prices fluctuate.
The framework also recommends debt-to-equity swaps with friendly countries such as Saudi Arabia and the UAE, allowing Pakistan to convert external liabilities into productive assets through long-term leases and equity partnerships.
This, Ahsan Bari argues, could reduce pressure on foreign reserves and support currency stability.
In addition, he called for austerity measures, including the withdrawal of free fuel and electricity privileges for public office holders during periods of high prices. He also suggests legislation to align the financial interests of policymakers with those of the public during economic crises.
The paper further emphasizes the need for legal protection for officials engaged in fuel price hedging, enabling long-term planning and shielding decision-makers from retrospective accountability.
Bari concludes that Pakistan’s economic recovery requires structural legal reforms rather than increased taxation, stressing that effective asset management and governance innovation are essential to stabilizing fuel prices and restoring investor confidence.