Pakistan’s petroleum industry is encountering fresh hurdles as both petroleum dealers and oil marketing firms present demands to the government.
The Petroleum Dealers Association (PDA) has penned a letter to Petroleum Minister Musadik Malik, urging for an augmentation in their profit margin.
They argue that their operational expenses have surged significantly since the last margin adjustment in September 2023, during the previous administration. They advocate for a comparable augmentation, akin to the previous increase of Rs 1.64 per liter.
Likewise, the Oil Companies Advisory Committee (OCAC) corresponded with the Chairman of OGRA, advocating for a revision in the methodology for oil price determination. They propose utilizing the current dollar rate for price calculations instead of relying on fortnightly average rates.
OCAC Secretary Nasir Zaidi, in an interview, stressed the stability of the dollar and emphasized that employing the current rate would enhance transparency in determining oil prices.
The IMF’s call for reinstating taxes has already driven up pump prices, and these additional appeals could exacerbate the situation. The government’s response to the requests of petroleum dealers and oil marketing companies remains uncertain.
