Oil Companies Advisory Council (OCAC) Appreciates Recent Petroleum Sector Reforms

Issuer: Oil Companies Advisory Council (OCAC). OCAC expresses appreciation to the Honorable Prime Minister Mian Muhammad Shehbaz Sharif and federal leadership for reforms in Pakistan's petroleum sector intended to strengthen the energy sector, protect consumers and promote a more competitive and transparent petroleum market.

Purpose: Acknowledgement of landmark reforms and OCAC's commitment to work with government to build a stronger energy future for Pakistan.

Key measures and benefits highlighted:

• Daily Pricing Mechanism — Delivering greater price stability, reduced consumer price shocks, enhanced market transparency and improved supply-chain predictability.
• Action Against Fuel Smuggling — Significant progress in curbing smuggling through stronger enforcement and coordination to protect national revenue and ensure fair competition for legitimate businesses.
• Progress Toward Deregulation for a Competitive Fuel Market — Encouraging market efficiency, strengthening the national fuel supply chain, supporting long-term investment and delivering better outcomes for consumers.

OCAC commitments and priorities going forward:

• Support Digitisation of the Economy — Promoting innovation, efficiency and smarter energy solutions.
• Support a Sustainable Petroleum Industry — Working to resolve key commercial issues including industry margins and pending PDC payments.
• Upgrade and Modernise Refineries — Improving efficiency, product quality and meeting future energy needs.
• Driving Investment and Growth — Creating jobs, attracting investment and contributing to national prosperity.

Contact/Follow-up: OCAC has publicly stated its intent to continue collaboration with government stakeholders to implement and sustain these reforms.