Key Takeaways
- All Pakistan Petroleum Pump Owners Association (APPPOA) defers nationwide strike for two weeks.
- Government assures stakeholders that grievances will be addressed within the next fortnight.
- Fuel prices to be fixed daily on a trial basis, with review after two weeks.
The All Pakistan Petroleum Pump Owners Association (APPPOA) has deferred its nationwide strike call for two weeks following negotiations with the petroleum minister. This decision came after the APPPOA had previously announced a strike from Wednesday night due to ongoing disagreements over daily petroleum pricing.
Petroleum Minister Ali Pervaiz Malik addressed the media, stating that the government would address the stakeholders' grievances within the next fortnight. He highlighted that the government has already used around Rs100 billion to mitigate the impact of rising fuel prices and initiated a subsidy scheme for vulnerable sections of society since February 28.
Minister Malik also mentioned that the country’s top civil and military leadership is engaged in talks with Iranian and US officials to resolve the conflict, which he said was causing fuel price fluctuations. He assured the APPPOA that the issue of dealers’ margins would be resolved through consultations with all stakeholders, adding that a summary on this matter would be submitted to the federal cabinet for consideration.
During the press conference, Malik announced that the Oil and Gas Regulatory Authority (Ogra) would start publishing fuel prices on its website daily. He also stated that a breakdown of these prices would be provided in Urdu to ensure transparency. The minister further assured the APPPOA officials present at the presser that they would receive good news within the next two weeks.
Nadeem Aziz Khan, Information Secretary of the APPPOA, addressed the media and said that daily fixing of fuel prices was being tried on a trial basis for two weeks. He added that after this period, the government would review the merits and demerits of this approach to ensure its effectiveness.
The petroleum minister emphasized the need for transparency in the system moving forward, acknowledging the difficulties faced by the oil sector over the past few years. He stated that the issue of dealers’ margins had been pending for some time and promised a progress report and summary would be presented to the cabinet to ensure honest earnings could meet expenses through the margin.
The government’s commitment to resolving these issues within the next fortnight is seen as a positive step by both parties, with hopes that the daily fixing of fuel prices will bring stability to the market. However, stakeholders remain cautious and are awaiting further developments in the coming weeks.
From February 28 till today, the government has used around Rs100 billion to mitigate the impact of rising fuel prices and initiated a subsidy scheme for the most vulnerable section of the society.
Ali Pervaiz Malik, Petroleum Minister
The issue of dealers’ margins would be resolved through consultations with all stakeholders, adding that a summary in this regard would be submitted to the federal cabinet for consideration.
Ali Pervaiz Malik, Petroleum Minister
