Oil price consultations continue.

KARACHI -- The government on Monday heard from various stakeholders in the oil industry, including downstream marketing and refining, about their recommendations on pricing reform for the vital vehicular fuel that has been in short supply in many cities around the country.

The Economic Coordination Committee (ECC) had created a subcommittee to produce recommendations on how pricing reform ought to be carried forward.

On Monday, the subcommittee, which comprises of three advisers to the prime minister including Nadeem Babar (Petroleum), Dr Ishrat Husain (Government Reforms) and Razak Dawood (Commerce), met with the representatives from OMCs, refineries as well as outside industry analysts.

No decision was taken in Monday`s meeting, one person familiar with the work told Dawn, but the subcommittee seems to have wrapped up its industry consultations and will now move to deliberate over its own recommendations. A date for the next meeting has not been set as of Monday.

The oilindustry has been in the...