ISLAMABAD, Oct 7: The Canadian International Development Agency (CIDA) will study Pakistan’s oil pricing mechanism and suggest changes to make it acceptable to all stakeholders, it is learnt.

Sources told Online here on Friday that the government had asked CIDA to conduct a study of oil pricing mechanism and determine legal and technical implications in empowering the Oil and Gas Regulatory Authority (OGRA) to fix oil prices.

They said that CIDA had appointed legal and technical consultants to study the price mechanism and suggest changes to make the system acceptable to all stakeholders.

They said that CIDA advisers would also study the OGRA Ordinance to come up with legal and technical opinion on whether the ordinance allowed transfer of oil pricing system to the oil and gas watchdog. —Online