Islamabad: The Pakistan Petroleum Dealers Association has announced its support for the government's decision to introduce a daily petroleum pricing mechanism. The announcement came during a meeting between Minister for Petroleum Ali Pervaiz Malik and a delegation of the Pakistan Petroleum Dealers Association.

According to Radio Pakistan, the delegation paid tribute to the government for ensuring the uninterrupted supply of petroleum products during the Strait of Hormuz crisis. Chief Adviser of the Association Malik Khuda Bakhsh noted that the government successfully maintained fuel supplies despite shortages in the region.

Speaking on the occasion, Ali Pervaiz Malik stated that the new daily petroleum pricing mechanism will be based on a seven-day rolling average, similar to the previous weekly pricing system. He emphasized that the daily pricing mechanism will enhance transparency, discourage market distortions, and help curb hoarding.

The delegation urged the government to include petroleum dealers in the formulation of regulations governing dealers and Oil Marketing Companies. The Petroleum Minister assured the delegation that dealers' views would be incorporated into the regulatory framework.

The delegation also demanded an increase in dealers' margins to eight percent. Ali Pervaiz Malik assured them that the matter would be given due consideration. He mentioned that a meeting between the PPDA and the Oil and Gas Regulatory Authority has been arranged for tomorrow to discuss dealers' margins and other related issues.

The Petroleum Minister thanked the PPDA leadership for supporting the government's reform agenda and reiterated the government's commitment to establishing a transparent, competitive, and consumer-friendly petroleum market.

The PPDA delegation included Chief Adviser Malik Khuda Bakhsh, Raja Waseem Kiani, Chaudhry Zafar Elahi, Babar Ali Chaudhry, and Chaudhry Faisal Arif.