KARACHI: After Pakistan’s oil refineries, petroleum dealers announced their decision to oppose the deregulation of fuel prices in the country on Thursday, saying the move would adversely impact their businesses and lead to their closure.
The Oil and Gas Regulatory Authority (OGRA) of Pakistan briefed the energy ministry on the possible deregulation of petroleum products on April 17, prompting five of the country’s oil refineries to write a letter in which they described it as complex and critical issue.
The deregulation proposal would empower oil marketing companies to determine fuel prices on the basis of various market forces. Local consumers getting petrol and diesel from places closer to ports and refineries would get relatively cheaper products due to the transportation cost.
“The deregulation is the death warrant for the people and the petroleum industry in the country,” Abdul Sami Khan, Chairman of Pakistan Petroleum Dealers’ Association, said at a media briefing along with other dealers at the Karachi Press Club. “If this is imposed on us, we will be compelled to shut down our businesses.”
The dealers present at the briefing said the deregulation would cause an increase in the prices of petroleum products and make it difficult to maintain the quality of the fuel.
They said giving mandate to oil marketing companies to determine oil prices would be unwise and lead to different market rates.
“The government wants to shift the burden of price hike to people and get rid of the public criticism amid spiraling rates of petroleum products,” Khan added.
He said the smuggled Iranian oil had been openly sold in Pakistan, though it was not refined and damaged engines of vehicles.
He also asked the government to legalize it “in the larger public interest.”
“An agreement should be made to import crude oil from Iran to end smuggling,” Khan suggested. “The crude oil bought from Iran can be refined locally.”
Malik Khuda Buksh, senior leader and founding member of the dealers’ association, said the deregulation would “create chaos in the market” since everyone would be quoting their own prices.
“Under the current mechanism, the government fixes the prices and no one can charge a single paisa more,” he explained while speaking to Arab News after the news briefing. “When the deregulation takes place, every oil marketing company will give its own price like vegetable and other product sellers, which will lead to further inflation.”
Like refiners, the petroleum dealers also warned that the deregulation of petroleum prices in Pakistan would negatively impact their business.
The letter jointly written by Attock Refinery Limited, Cnergyico PK Limited, National Refinery Limited, Pakistan Refinery Limited and Pak Arab Refinery Limited said the deregulation could jeopardize nearly $6 billion of investment.
The letter maintained it was better to spend money on upgrading the refineries since it would not only result in cleaner and environment-friendly fuels of Euro-V specifications but would also help save precious foreign exchange by substantially increasing local production.
Pakistan refiners, fuel station owners oppose price deregulation, fear business closures
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Pakistan refiners, fuel station owners oppose price deregulation, fear business closures
- Petroleum dealers say government wants to avoid public criticism and shift the burden of high oil prices to consumers
- Oil refineries also opposed deregulation earlier this week, saying it would put their $6 billion investment at risk
Islamic military coalition, Pakistan to deepen cooperation to combat ‘terrorism’ — Pakistani military
- Islamic Military Counter Terrorism Coalition is a 43-member alliance that includes Pakistan, Saudi Arabia, Egypt, Jordan, UAE and other nations
- The Pakistani military statement comes after a meeting between IMCTC secretary-general and the chief of Pakistani defense forces in Rawalpindi
ISLAMABAD: Pakistan and the Islamic Military Counter Terrorism Coalition (IMCTC) have reaffirmed their commitment to deepening cooperation, including intelligence sharing and capacity building, to jointly combat “terrorism” and “extremism,” the Pakistani military said on Monday.
The IMCTC is a 43-member military alliance that was formed on Saudi Arabia’s initiative in Dec. 2015 to consolidate Muslim countries’ efforts in countering “terrorism.”
A 17-member IMCTC delegation is visiting Pakistan from Feb. 2-6 to conduct a training at National University of Sciences and Technology on “Re-integration and Rehabilitation of Extremist Elements,” according to the Pakistani military.
On Monday, IMCTC Secretary-General Maj. Gen. Mohammed bin Saeed Al-Moghedi held a meeting with Chief of Pakistani Defense Forces Field Marshal Asim Munir to discuss cooperation among IMCTC member states.
“During the meeting, matters of mutual interest were discussed, with particular emphasis on regional security dynamics and enhanced cooperation in counter-terrorism efforts,” the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing, said in a statement.
“Both sides reaffirmed their shared commitment to combating terrorism and extremism through collaborative strategies, intelligence sharing, and capacity building among member states.”
The IMCTC features Pakistan, Saudi Arabia, Türkiye, Afghanistan, Egypt, Jordan, Qatar, Palestine, UAE, Bangladesh and other nations. In 2017, Pakistan’s former army chief Gen. (retd) Raheel Sharif was appointed as the IMCTC commander-in-chief.
During discussions with Major General Al-Moghedi, Field Marshal Munir appreciated the role of IMCTC in fostering stability and promoting coordinated counterterrorism initiatives across the Islamic world, according to the ISPR.
The IMCTC secretary-general acknowledged Pakistan’s significant contributions and sacrifices in the fight against militancy and lauded the professionalism of Pakistan’s armed forces.
“The meeting underscored the resolve of both sides to further strengthen institutional collaboration for peace, stability, and security in the region,” the ISPR added.
Pakistan enjoys cordial ties with most Muslim countries around the world, particularly Gulf Cooperation Council countries. In Sept. 2025, Pakistan signed a landmark defense pact with Saudi Arabia according to which an act of aggression against one country will be treated as an act of aggression against both.
