The federal government is weighing a shift to daily fuel price adjustments to better reflect global market swings.
The country currently updates rates weekly after changing from its previous fortnightly system when the Iran war started.
The International Monetary Fund has shared the Memorandum of Economic and Financial Policies (MEFP) to show where Pakistan stands to unlock another $1 billion loan tranche.
Rising global oil prices and the closure of the Strait of Hormuz forced a recent Rs. 55 per liter increase in petrol and diesel prices. At today’s weekly review, the premier again announced unchanged fuel prices.
Prime Minister Shehbaz Sharif said the government is shielding consumers from further hikes while urging public cooperation in fuel conservation.
Prior to the Gulf War, IMF officials reported considerable progress. Its members said that Pakistan’s $7 billion Extended Fund Facility program is currently aligned with policy commitments through February.
