Finance Minister’s Adviser Khurram Shehzad has revealed that the government is evaluating the advantages of implementing a system where petroleum product prices could be adjusted daily. This approach is already adopted in several countries and aims to reflect real-time global market conditions.
During an appearance on a morning news program, Shehzad explained that daily fuel price changes help minimize market speculation and uncertainty. The intended goal is to ensure prices remain aligned with international trends while carefully weighing the benefits and possible consequences of such a system.
He emphasized that one of the government’s primary objectives is to reduce its direct involvement in price setting, thereby empowering the private sector to play a more significant role. This shift would allow the market to function more freely supply and demand dynamics.
Shehzad noted that fuel prices naturally fluctuate and do not stay fixed. Artificial government controls could lead to suppliers withholding products, potentially causing shortages. Therefore, allowing prices to adjust more fluidly is seen as a way to maintain market stability.
In addition, the adviser highlighted that the government is exploring policies to enhance transparency, foster competition, and improve consumer experiences in the petroleum market. However, he assured that any new pricing mechanism would undergo comprehensive review before being introduced.
