The government assigned the Oil and Gas Regulatory Authority (Ogra) the responsibility of determining fuel prices daily to align with international market trends. The State Bank and FBR do not manage retail fuel pricing. [Source: https://www.dawn.com/news/2019031/govt-increases-petrol-price-by-rs163-hsd-price-by-rs155, 28 Jul 2026]
64242
Consider the following statements regarding policy and governance developments in Pakistan as of August 5, 2026:
Statement 1 is incorrect because the planned restructuring involves unbundling the two existing gas utilities into five entities, not five companies into two. Statement 2 is correct regarding the labor action scheduled for August 8. Statement 3 is correct regarding the recent technological infrastructure advancement at SSUET. [Source: https://www.brecorder.com/news/40433353/goods-transporters-say-will-observe-strike-from-8th]
64243
Which regulatory body is responsible for licensing Oil Marketing Companies (OMCs) that purchase products from refineries?
The Oil and Gas Regulatory Authority (OGRA) is the designated body for licensing OMCs. Refineries are permitted to sell their upgraded products to any OMCs licensed by this authority. [Source: https://www.dawn.com/news/2019003/govt-finally-revamps-oil-refining-policy-what-does-it-mean, 28 Jul 2026]
64244
Under the new fiscal regime, what is the minimum customs duty applied to imported motor gasoline and diesel for a seven-year period?
The policy establishes a minimum customs or regulatory duty of 10 percent on imported motor gasoline and diesel. This measure is designed to provide tariff protection to domestic refineries during their transition period. [Source: https://www.dawn.com/news/2019003/govt-finally-revamps-oil-refining-policy-what-does-it-mean, 28 Jul 2026]
64245
Consider the following statements about the Brownfield Refining Policy:
1. It supersedes all previous refining policies.
2. It mandates that refineries must meet Euro-V standards within one month of the policy notification.
3. Customs duty on crude oil will be reimbursed to refineries through the Inland Freight Equalisation Margin (IFEM) pool.
Which of the statements given above is/are correct?
Statement 1 is correct as the policy supersedes previous frameworks. Statement 3 is correct regarding the reimbursement mechanism. Statement 2 is incorrect because the Petroleum Division will notify the specifications within one month, but the actual upgrade process for refineries involves project-specific timelines rather than a blanket one-month completion requirement. [Source: https://www.dawn.com/news/2019003/govt-finally-revamps-oil-refining-policy-what-does-it-mean, 28 Jul 2026]
64246
The Brownfield Refining Policy is expected to increase the daily production of motor spirit (petrol) by what percentage?
The policy projects a significant shift in product mix, with motor spirit production expected to rise by 72 percent, from 10,700 TPD to 18,400 TPD. [Source: https://www.dawn.com/news/2019003/govt-approves-new-oil-refining-policy-after-years-what-does-it-mean, 28 Jul 2026]
64247
Which constitutional body is the supreme decision-making forum for economic planning in Pakistan?
The National Economic Council (NEC) is the supreme constitutional body responsible for reviewing the overall economic condition of the country and formulating plans for balanced development.
The Annual Development Programme (ADP) is the primary mechanism through which provincial governments allocate funds for development projects within their respective jurisdictions.
The Minister for Planning and Development serves as the chairperson of the Central Development Working Party, which oversees the technical appraisal of development schemes in Pakistan.
Consider the following statements about the energy sector reforms discussed on 28 July 2026:
1. The government aims to increase strategic petroleum reserves to mitigate supply shocks.
2. The Oil and Gas Regulatory Authority (Ogra) is slated for performance-related reforms.
3. The federal budget for FY24-25 provided full, uninterrupted support for the 2023 refining policy.
Which of the statements given above is/are correct?
Statement 1 and 2 are correct as they reflect the PM's directives. Statement 3 is incorrect because the federal budget for FY24-25 actually nullified many incentives in the 2023 policy, causing refineries to pause their projects. [Source: https://www.dawn.com/news/2018968/pm-orders-increase-in-countrys-strategic-petroleum-reserves-changes-to-oil-refining-policy-approved, 28 Jul 2026]
