Achi news desk-
Oil and Gas Regulatory Authority (OGRA) Chairman Mansoor Khan told reporters on Tuesday that the federal government plans to gradually deregulate petroleum prices only after taking all dealers and oil marketing companies (OMCs) into confidence.
This follows a request made by the Petroleum Division to OGRA last month for an analysis and implications of the deregulation of petroleum products.
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Although the deregulation has faced opposition from refineries and petroleum dealers, it will essentially allow oil companies to set their own prices for MS petrol and high-speed diesel (HSD) in different cities and towns. Although petroleum prices are already legally deregulated, kerosene prices are officially set by the government.
The OGRA chairman acknowledged the complexity of the entire deregulation process and promised to engage with all parts of the industry before making a decision.
