Islamabad (HRNW)- The federal government has established a Petroleum Price Stabilization Fund as part of a new initiative aimed at reducing the impact of fluctuations in petroleum prices on consumers.
The fund has been created following the approval of the federal cabinet, with the Ministry of Finance issuing a formal notification regarding its establishment.
According to the notification, all financial resources allocated to the fund will be deposited into the Public Account of the Federation, while a separate accounting head has been created specifically for the Petroleum Price Stabilization Fund.
The government said the Ministry of Finance, the Petroleum Division, and the Oil and Gas Regulatory Authority (OGRA) will jointly develop the fund’s operational procedures and governance framework.
The notification further states that the fund’s administrative and financial rules will be approved separately. The initiative introduces a new financial mechanism designed to help stabilize fuel prices and manage the impact of fluctuations in international petroleum markets.
The State Bank of Pakistan, provincial governments, and other relevant institutions have also been formally informed about the establishment of the fund.
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