Pakistan, June 18 -- The government has formed a high-level committee to develop a weekly petroleum pricing formula. The move aims to pass global oil price reductions to consumers more quickly. The decision could affect millions of Pakistanis through changes in fuel costs and transportation expenses.

Petroleum Minister Ali Pervaiz Malik announced the development in an official statement. He said Prime Minister Shehbaz Sharif directed authorities to ensure timely public relief. According to the minister, falling international oil prices should benefit consumers without unnecessary delays.

The committee will design a transparent pricing mechanism for petroleum products. Ali Pervaiz Malik said the proposed formula will help consumers under...