ISLAMABAD (Kashmir English): Pakistan Petroleum Dealers on Thursday rejected the government’s deregulation policy regarding fuel prices and warned of the nationwide shutdown of petrol pumps across the country.
In a video message, Chairman All Pakistan Petroleum Dealers Association Abdul Sami Khan rejected the deregulation formula on the prices of petroleum products, adding that the imposition of the deregulation policy will lead to fuel smuggling and adulteration.
As per details, Minister for Petroleum Musadik Malik on Tuesday announced that the government has prepared a plan, under which petrol stations would be allowed to set their prices.
During his address at the Global Oil and Gas Conference, the Petroleum Minister said that the government’s decision to introduce a deregulation policy in the petroleum sector is to encourage oil companies to compete by offering cheaper petrol to capture market share.
Petroleum Dealers Association chief warned that the decision could create confusion and unfair pricing across the country.
In response, the association has called an emergency meeting of the Central Committee, with protest banners expected to appear nationwide.
Additionally, the association planned to send an urgent letter to the Petroleum Ministry opposing the deregulation formula and urging the government to increase the dealers’ profit margin from the current 4 per cent to Rs13 per litre.
