The federal government has established a Petroleum Prices Stabilisation Fund to help keep petroleum product prices stable in the future, according to the reports on Monday.
The Ministry of Finance has issued an official notification confirming the creation of the fund as well, the reports add.
According to the notification, the fund has been set up following the approval of the federal cabinet.
A separate account will be created under the Public Account of the Federation to manage all financial matters related to the fund.
The notification said that all money received for the fund will be deposited into the dedicated account. The Ministry of Finance, Petroleum Division and the Oil and Gas Regulatory Authority (OGRA) will jointly prepare the operating procedure for the fund.
The ministry said the required legal and financial approvals will be obtained separately before the fund becomes fully operational.
According to the notification, the fund has been established to implement the federal cabinet’s decision made on June 5, 2026.
Its main purpose is to reduce the impact of sharp changes in petroleum prices and help maintain price stability in the future.
New transparent petrol pricing system
Before this, the federal government announced plans to introduce a new mechanism to make the petrol pricing system more transparent.
Federal Minister for Petroleum Ali Pervaiz Malik said that a high-level committee has been formed on the instructions of Prime Minister Shehbaz Sharif to develop the new system.
He said that the committee is expected to share positive news with the public in the coming days.
Speaking to a local media outlet, the minister said protecting consumers is the government’s top priority.
He added that the committee will ensure petroleum prices are determined through a fair and transparent process based on international market trends. Malik also said the government is closely watching changes in global oil prices.
