KARACHI: Pakistan’s oil industry is in a fix believing a spanner has been thrown in the works regarding critical agreements for local investment, holding off the direly needed upgrade of the.
Looking to drive down prices for consumers, the South Asian nation s Oil & Gas Regulatory Authority (OGRA) has proposed that oil marketers and refineries be allowed to set fuel prices, instead of the government setting prices.
Pakistan s plans to
deregulate fuel prices could lead refiners to halt planned
upgrades worth up to $6 billion and force some refineries to
close, some of the country s top refiners said in a letter.