Petroleum dealers in Pakistan have issued a warning to close down filling stations across the country in protest of a non-increase in their profit margins.
The decision was made after the government failed to keep its promise of expanding profit margins, leaving them dissatisfied with the current scenario.
In a statement, Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan voiced anger with the government’s unwillingness to increase their profit margin, claiming that a September 1 deadline had passed.
Sami Khan stated that his organisation had a written agreement with the government and other stakeholders. He regretted, though, that the government had not boosted profit margins.
“We cannot run filling stations with the current dealer margin,” he stated, noting that the expense ratio has increased dramatically. He threatened a total strike if the government did not improve profit margins.
Following assurances from then-State Minister for Petroleum, Musadik Malik, Pakistan’s petroleum dealers opted to postpone their statewide protest earlier in July.
The minister, OGRA Chairman Masoor Khan, and Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan finalised and signed an agreement.
Previously, the dealers had issued an indefinite warning to close their fuel pumps after the previous administration failed to keep its pledge of expanding their profit margins to 5%, equivalent to Rs12/litre at current petrol and diesel rates.
It is important to note that the interim government raised the price of petrol by Rs 14.9 per litre the day before. The price of petrol increased by Rs 14.9 per litre to Rs305.36 a litre.
Meanwhile, high-speed diesel (HSD) prices increased by Rs18.44 per litre to Rs311.84.
