• Move aimed at preserving at least three months of import cover• Petrol, diesel prices to be revised only on working days• Ogra to now publish working details on its website• Govt to retain control over levy, climate levy, customs duty, deemed duty, margins
ISLAMABAD: The government may shift back to fuel conservation and austerity measures as early as this week or next, as renewed hostilities in the Middle East raise pressure on oil prices and foreign exchange reserves.
At the same time, prices of the two major petroleum products — petrol and high-speed diesel — will be revised only on working days, even though the move has been portrayed as a step towards deregulation and daily pricing.
Retail petroleum prices will be announced every working day, from Monday to Friday, and not on Saturdays and Sundays. The announcement will be made by the Petroleum Division late in the evening, as usual, but not on a weekly basis.
Effectively, rates announced on Friday will remain in place for the next three days — Saturday, Sunday and Monday — a senior government official told Dawn.
