Pakistan, July 19 -- Petroleum Minister Ali Pervaiz Malik on Saturday held consultations with oil industry stakeholders on the proposed transition from weekly fuel price adjustments, a reform aimed at deregulating the sector and making prices more responsive to market forces.

Under pressure to explain rising fuel costs as global oil prices surge, the government on Friday announced a new transparency measure under which the Oil and Gas Regulatory Authority (Ogra) will review petroleum prices daily and publish pricing data on its website to support weekly fuel price calculations.

In this regard, Malik today chaired a high-level meeting with key stakeholders, including the Oil and Gas Regulatory Authority (OGRA), the Oil Companies Advisory...