ISLAMABAD: The federal government has constituted a high-level committee to address long-standing concerns raised by oil tanker owners, including freight rates and the petroleum transportation quota system, Petroleum Minister Ali Pervaiz Malik announced on Monday.
Speaking to the media in Islamabad, the petroleum minister said the committee has been tasked with engaging stakeholders and submitting its recommendations within one week to help resolve the industry’s outstanding issues.
The announcement followed a meeting between the Petroleum Division and a delegation of the Oil Tanker Contractors Association, during which both sides agreed to resolve pending matters through mutual consultation.
According to a statement posted by the Petroleum Division on its official X account, the committee will examine key concerns of oil tanker contractors and recommend practical solutions to improve the sector’s operational framework.
Minister Malik said the committee would specifically review issues related to oil tanker freight rates and the existing quota system, which have been major concerns for transporters.
Commenting on petroleum prices, the minister said the recent increase in fuel prices is expected to ease in the coming days. However, he emphasized that the determination of petroleum prices falls under the jurisdiction of the Oil and Gas Regulatory Authority (OGRA), which calculates prices in accordance with the prescribed pricing formula.
He also informed reporters that ships previously stranded in the Bab el-Mandeb Strait had resumed their voyages, indicating an improvement in regional maritime logistics.
The latest development follows recent negotiations between the federal government and petroleum sector stakeholders after the All Pakistan Petrol Pumps Owners Association (APPPOA) announced a nationwide strike against the government’s proposal to introduce daily revisions in petroleum product prices. The association later withdrew the strike call after receiving assurances from the government.
During a joint press conference on July 22, representatives of the petroleum retail sector said the government had assured them that their concerns, including dealer margins, would be addressed. They expressed confidence that the issue of increasing petroleum dealers’ margins would be resolved within two weeks.
Earlier, on July 17, the federal government announced a new mechanism under which petroleum product prices would be reviewed on a daily basis in response to fluctuations in international oil markets. The decision was approved by Prime Minister Shehbaz Sharif and the federal cabinet, Petroleum Minister Ali Pervaiz Malik said at the time during a joint press conference with Information Minister Attaullah Tarar.
