A government committee has decided to extend the Fuel Price Adjustment (FPA) mechanism to gas bills as well, aiming to address challenges in the petroleum sector. This move was discussed in a meeting led by Deputy Prime Minister Ishaq Dar, focusing on the issues faced by exploration and production (E&P) companies.
During the meeting, ministers from petroleum, finance, revenue, energy, and other key members participated. Ishaq Dar stressed the crucial role of the petroleum sector in ensuring energy security and boosting economic growth. He highlighted the government’s commitment to supporting both local and foreign companies, believing that this will encourage further investment in the sector.
Local and foreign E&P companies voiced their concerns about the sector’s stability, particularly due to the increasing circular debt. Private sector representatives also pointed out the need to involve private companies in the downstream gas sector to enhance sustainability.
In response to these concerns, the committee directed the Petroleum Division to suggest amendments to the OGRA Ordinance, introducing a system for adjusting gas rates either monthly or quarterly. To address security issues, the Interior Division was instructed to work closely with E&P companies and establish a one-window facility system at federal and provincial levels to ensure security in challenging areas.
 mechanism to gas bills as well, aiming to address challenges in the petroleum sector. This move was discussed in a meeting led by Deputy Prime Minister Ishaq Dar, focusing on the issues faced by exploration and production (E&P) companies.){kind=link}