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Aftab Maken
ISLAMABAD: Pakistan’s petroleum pump owners suspended a planned nationwide strike for two weeks after the government pledged to address their concerns over dealer margins and the newly introduced daily fuel pricing mechanism.
Pakistan’s petroleum pump owners on Wednesday suspended a planned nationwide strike for two weeks after the government assured them their concerns over dealer margins and daily fuel price revisions would be addressed through consultations.
The All Pakistan Petroleum Pump Owners Association (APPPOA) had announced a nationwide shutdown from Wednesday night after talks with the government failed to resolve disputes over the introduction of daily petroleum price adjustments and dealers’ margins.
Following fresh negotiations, Petroleum Minister Ali Pervaiz Malik said both sides had agreed to defer the strike after the government committed to resolving the outstanding issues within two weeks.
“We have agreed that all concerns raised by petroleum dealers will be addressed through consultations, and a summary regarding dealer margins will be submitted to the federal cabinet,” Malik told a news conference.
He said the government would also review the newly introduced daily fuel pricing mechanism with stakeholders after two weeks.
Pakistan shifted to daily petroleum price adjustments last week in response to heightened volatility in international oil markets following renewed tensions between Iran and the United States. The move replaced the country’s fortnightly fuel price review system.
Malik said the government had spent about Rs100 billion since Feb. 28 to cushion consumers from rising global fuel prices and to finance targeted subsidies for the country’s most vulnerable households.
“The clouds of war are again building in the region and fuel prices are rising,” the minister said, adding that petroleum dealers had extended their support to the government’s efforts to maintain fuel supplies during the uncertain regional situation.
He said Pakistan’s civilian and military leadership remained engaged with both Iranian and U.S. officials in support of diplomatic efforts aimed at easing regional tensions.
The minister said the Oil and Gas Regulatory Authority (OGRA) had begun publishing daily petroleum prices on its website along with a detailed price breakdown in Urdu to improve transparency.
Pakistan imports the bulk of its petroleum requirements, making domestic fuel prices highly sensitive to fluctuations in international crude oil markets and exchange rate movements. The government says daily pricing is intended to better reflect global market conditions while reducing the fiscal burden of delayed price adjustments.
