Miftah Ismail’s claim about petrol prices has sparked debate after the former finance minister said Pakistan’s latest fuel price increase effectively handed oil companies a major financial benefit. In televised remarks reported by local media, he argued that the early price revision mainly helped oil marketing companies through stock replacement while ordinary consumers were left to bear the cost.
The criticism came after Pakistan raised petrol and diesel prices for the first half of March 2026 through an official notification. Reported coverage said petrol was increased by Rs8 per litre to Rs266.17, while diesel was also raised.
According to reports on his comments, Ismail said consumers could continue paying elevated fuel prices for up to 15 days even if global oil prices later fall. He argued that cheaper petrol already in stock should have been sold at the old rate, and that prices should only rise when higher-cost fuel is actually purchased.
Miftah Ismail Petrol Price Claim Targets Oil Firms
Ismail also suggested the government had other options. He said authorities could have increased the levy instead of creating what he described as a “gift” to oil marketing companies, and he criticised passing the burden directly to the public.
His remarks reflect a broader argument about how petroleum pricing works in Pakistan. When prices are revised ahead of changes in replacement cost, companies holding older inventory may benefit by selling existing stock at the newly raised prices. That is the core point of his criticism, based on the available reports.
Read: Petrol Price Hike Raises Food Prices in Pakistan
The government’s side, according to recent pricing coverage, is that the increase followed OGRA recommendations and reflected international oil market pressures. That means the debate is not only about the size of the increase, but also about the timing and who benefits first from the adjustment.
