Islamabad: (Right Now News) Federal Minister for Petroleum Ali Pervaiz Malik has made an important statement regarding the diesel pricing formula. He stated that the change in the formula is not due to any pressure but is a voluntary agreement between the Petroleum Division and refineries.

According to him, an interim formula has been prepared after consultation with the research team. Refineries need to upgrade and move towards complete deregulation, and it is essential to provide them with fair pricing according to global standards.

The Federal Minister mentioned that by paying the right price, local refineries can be brought on par with Indian refineries. The aim is to increase the production of value-added products.

He further stated that increased competition will protect consumer interests, and policy continuity is crucial for Pakistan’s economic improvement.

It is noteworthy that Ali Pervaiz Malik has appealed to leave narrow-minded politics for decisions in the national interest. The upgrade of refineries is important for the country’s economy.