Pakistan, July 13 -- A high-level government committee on Monday proposed major reforms to Pakistan's petroleum pricing mechanism to improve transparency, market stability, and energy security. The recommendations come as uncertainty in global oil markets increases following renewed disruption around the Strait of Hormuz. The proposed measures aim to make fuel pricing more transparent while strengthening public confidence in the system.

The committee, formed by Prime Minister Shehbaz Sharif, met under the chairmanship of Petroleum Minister Ali Pervaiz Malik. During the meeting, Malik said renewed uncertainty in global energy markets had increased the importance of the committee's work. He also cited a KPMG study showing Pakistan's petrol...