The petroleum sector is moving toward deregulation as the government looks to set clear targets and milestones after expressing satisfaction with the country’s new daily fuel pricing mechanism. Federal Minister for Petroleum Ali Pervaiz Malik on Thursday briefed the fifth meeting of the Prime Minister’s Petroleum Pricing Committee to develop specific goals and timelines for the phased deregulation of the sector. ALSO READ PPL Discovers New Oil and Gas Reserves in SindhCommittee members praised the daily petroleum pricing formula, saying the new mechanism has helped reduce volatility in fuel prices. He added that a dashboard on the Oil and Gas Regulatory Authority (OGRA) website is now operational and provides daily price updates and related data to the public. The committee also examined the potential role of strategic petroleum reserves and a price stabilization fund in controlling sharp price fluctuations.