Pakistan may deregulate POL products

The Pakistani government may allow oil refineries to continue charging 7.5% deemed duty on high speed diesel fuel (HSD) for a period of one year and deregulate all petroleum products under a new oil pricing policy. These products include light diesel oil (LDO), high-octane blending component (HOBC), jet propellant (JP-1), petrol and kerosene oil. Sources close to the Chairman of the Oil and Gas Regulatory Authority (OGRA) Tauqir Sadiq told Business Recorder that a high level meeting held on January 27 proposed to allow existing 7.5% deemed duty on HSD after oil refineries had rejected almost all the pricing formula to determine the ex-refinery price. (January 30, 2010)