Pakistan, July 20 -- The federal government has approved a new pricing mechanism for petroleum products, allowing OGRA to announce daily fuel prices without separate approval from the prime minister or federal cabinet. The move aims to introduce a more market-based pricing system in Pakistan.

According to official documents, OGRA will issue daily ex-depot prices for petrol and high-speed diesel under the new mechanism. The regulator will calculate prices based on the average global market rates of the previous seven days.

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The documents state that existing prices will remain unchanged on Saturdays and Sundays. Meanwhile, prices of kerosene oil and light d...