Pakistan, Sept. 4 -- The government has set June 2027 as the target for deregulating petrol prices in Pakistan. The decision could bring major changes to how fuel prices are determined. Consumers could face a pricing system linked more closely with market conditions.

The Petroleum Pricing Committee discussed reforms to the existing petroleum pricing system. Officials proposed connecting the pricing formula with market-based conditions. The committee also approved a new method for calculating the Inland Freight Equalisation Margin.

Officials also discussed ways to manage major changes in diesel prices. The committee decided to develop rules for handling sharp price movements. The proposed rules aim to provide consumers with greater prote...