ICMA cautions against petrol price volatility
The Institute of Cost and Management Accountants of Pakistan (ICMA) has released its latest Economic Signal report, cautioning that Pakistan’s move to daily petroleum price adjustments is amplifying short-term uncertainty amid global oil volatility.
Between August 1 and September 17, petrol prices surged by 16.42pc, rising from Rs336.03 to Rs391.22 per litre, while high-speed diesel climbed 7.41pc to Rs421.45 per litre. The report emphasises that daily repricing has accelerated the transmission of external shocks, leaving households and businesses with little time to absorb sudden cost increases.
The ICMA study underscores that “daily transparency should not mean daily volatility,” urging policymakers to balance market responsiveness with predictability. Malaysia’s weekly pricing cycle, which combines market adjustments with targeted subsidies, is cited as a model offering greater stability than Pakistan’s daily mechanism, which has disrupted transport, production, and freight costs.
The report also highlights the fiscal dimension, noting that the Petroleum Levy stood at Rs80 per litre on September 17, accounting for more than 20pc of petrol’s retail price, while frequent adjustments complicated budgeting, export pricing, and inventory management across industries.
International comparisons reveal that Gulf countries such as the UAE and Qatar maintain monthly pricing windows, India absorbed shocks through excise duty cuts, and Thailand temporarily capped diesel prices.
ICMA recommends that Pakistan adopt a weekly retail reset based on rolling averages of international prices, introduce a rulesbased shock corridor to phase exceptionally large increases, direct relief toward vulnerable sectors such as public transport and essential freight rather than broad price freezes, and strengthen fuelsupply resilience through inventories, diversified sourcing, and emergency protocols.
The report concludes that Pakistan must combine marketlinked transparency with clearly defined adjustment frequency and targeted protection. Predictability and gradual passthrough, it argues, are essential to safeguard households and businesses against global oil shocks while maintaining fiscal discipline.
Accelerating digital transformation
SI Global Solutions and Dell Technologies have reaffirmed their commitment to accelerating digital transformation in Pakistan through cutting-edge technology solutions and products, continuing their 10-year partnership to the next level at an event titled “Powering Possibilities Technologies”, held recently, as per a press release.
Speaking on the occasion, SI Global Solutions CEO Dr Noman A Said emphasised that Pakistan must move from being primarily a consumer of technology to becoming a developer and exporter of technology. To do that, research and development must become a national priority, backed not only by funding but also by procurement policies that give locally developed technologies a chance to prove themselves at scale.
Countries such as Singapore have built globally competitive technology ecosystems through sustained investment in R&D, industry collaboration and commercialisation, while Malaysia has introduced mechanisms that give qualified locally developed R&D products priority in government procurement.
Our public procurement rules also need to evolve. Technology cannot always be procured purely based on the lowest price or traditional qualification criteria. Procurement should recognise innovation, local intellectual property, R&D investment, cybersecurity, lifecycle value and technology transfer.
Speaking as the chief guest, Country Manager Dell Technologies Naveed Siraj said technology adoption was growing across Pakistan, while the rapid pace of technological advancement was making it increasingly important for businesses to select solutions that best suited their requirements.
He said aligning government policies with local technology adoption was essential to fully benefit from emerging technologies and new business models in an era increasingly driven by technology and artificial intelligence.
Vicks new partnership
Welnox, a Martin Dow Group company, announced a licensing partnership with Procter & Gamble (P&G) for Vicks VapoRub, with availability expected to begin in the coming weeks, according to a press release.
This strategic partnership reinforces Martin Dow’s commitment to expand access to high-quality, reliable healthcare solutions for millions of consumers across the country.
Anwar Zaman, CEO, Welnox, said, “Vicks VapoRub is an iconic brand with enduring equity, and a natural fit with our vision to build a strong, consumer-centric healthcare portfolio. We see significant opportunity to build on its strong foundation and unlock new avenues of growth in Pakistan.”
Published in Dawn, The Business and Finance Weekly, September 21st, 2026
