Shahid Khaqan Abbasi Criticizes Pakistan’s Petroleum Pricing Policy as Flawed

🟢 Key Points

• Shahid Khaqan Abbasi criticized the government’s petroleum pricing policy.
• He termed the current system inconsistent and ineffective.
• Suggested deregulating fuel prices and allowing market-based mechanisms.
• Highlighted frequent policy changes as a major issue.
• Emphasized that no country controls fuel prices administratively.
• Also stressed the need to promote electric vehicles to reduce dependence on fuel.

🟢 Summary

Former Prime Minister Shahid Khaqan Abbasi has strongly criticized the government’s approach to petroleum pricing, calling it flawed and inconsistent. He argued that frequent policy changes and administrative control over fuel prices are harming the economy. Abbasi recommended deregulating petroleum prices and allowing market forces to determine rates, while also encouraging the adoption of electric vehicles to reduce reliance on imported fuel.

🟢 Detailed News

🔹 Government Policy Called Ineffective

Shahid Khaqan Abbasi stated that the government’s current petroleum pricing policy is fundamentally wrong and lacks long-term consistency. He pointed out that frequent and sudden changes in fuel prices create uncertainty and negatively impact the public and economy.

🔹 Call for Deregulation of Fuel Prices

Abbasi emphasized that petroleum prices should not be controlled by the government. Instead, he suggested that prices should be determined by market forces, as is the practice in most countries. According to him, deregulation would bring transparency and stability to the system.

🔹 Concerns Over Policy Instability

He criticized the government for repeatedly changing fuel pricing policies within short periods. This inconsistency, he said, reflects poor planning and weak governance, making it difficult to implement sustainable economic strategies.

🔹 Push for Electric Vehicles

Abbasi also highlighted the importance of promoting electric vehicles (EVs) as a long-term solution. He argued that encouraging EV adoption can reduce dependence on petroleum products and help stabilize the economy amid global oil price fluctuations.