Oil sector deregulation fast-tracked

The government has expedited the consultation process for deregulating the petroleum sector and setting uniform gas prices for the processing industry along with wellhead, piped gas and liquefied natural gas (LNG). Prime Minister Shehbaz Sharif has directed the Petroleum Division to work out proposals for deregulating the petroleum sector and fixing uniform prices for locally produced and imported gas. Sources told The Express Tribune that the Prime Minister's Office had called a high-level meeting to review a host of critical issues related to the country's petroleum sector. The premier stressed the need for detailed discussions on the long-standing issues, which were examined in earlier meetings as well. Key topics for the briefing include the proposed deregulation of the petroleum sector, which has been under consideration for several months as well as efforts to establish a uniform gas pricing mechanism for the processing industry.