Govt working on deregulating POL prices

Petroleum Minister Musaddik Malik said on Thursday the government was introducing reforms in the energy sector, including the deregulation of the prices of the petroleum product and elimination of the all unnecessary regulations. Addressing a ceremony at the Oil and Gas Development Company Limited (OGDCL) and Schlumberger, Malik stated that Prime Minister Shehbaz Sharif had formed a committee for rightsizing of government institutions with a view to retaining only those ministries and institutions which benefited the public. "All unnecessary laws, unnecessary regulations are being abolished. Only the most essential ones will be kept, everything else will be abolished," Malik said. "We are working on deregulation of petroleum product prices," he added. The minister said that the government was introducing major changes in the energy sector and in this regard, the prime minister had given clear instructions. "The country is changing, now we will depend on domestic resources. We will progress with the country's own energy resources." (WITH INPUT FROM APP)

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