Four local refineries urge federal govt to restore old fuel pricing system
Pakistan’s four major oil refineries have raised objections to the government’s new petroleum pricing mechanism.
In a letter to the petroleum minister, Attock Refinery Limited, Cnergyico PK Limited, National Refinery Limited, and Pakistan Refinery Limited called for the immediate withdrawal of the revised pricing formula for Motor Spirit.
They warn that the policy imposes a steep financial loss of Rs 49.02 per litre, threatening their operational viability and jeopardizing a massive $6 billion sector modernization plan.
On October 30, the federal government unilaterally modified the pricing formula for Motor Spirit (MS/petrol) to shield consumers from surging global fuel prices triggered by the U.S.–Iran conflict.
The refineries said the new system had been introduced without consulting them and could increase their financial difficulties.
They demanded the restoration of the pricing formula introduced on March 7, 2026, and urged the government to bring back the system that was in place before October 31, 2026.
According to the joint letter, the new pricing mechanism is harmful to investment and could delay ongoing refinery upgradation projects.
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