Petrol pump owners defer strike call after talks with petroleum minister

The All Pakistan Petroleum Pump Owners Association (APPPOA) has postponed its planned nationwide strike for two weeks following successful negotiations with Petroleum Minister Ali Pervaiz Malik.

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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.

The strike, initially set to begin Wednesday night, was called off after the government committed to addressing the association's grievances within the next fortnight. The minister highlighted the government's efforts to cushion the economic impact of rising global fuel prices, including a subsidy scheme and the use of approximately 100 billion rupees.

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The clouds of war are again building in the region and fuel prices are rising.

Malik explained that the current volatility in fuel prices is linked to the escalating tensions between Iran and the US. He noted that the country's leadership is engaged in diplomatic efforts to resolve the regional conflict. The issue of dealers' margins will be discussed with all stakeholders, and a proposal will be submitted to the federal cabinet. The daily fuel pricing mechanism will also be reviewed in two weeks.

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The minister said the country’s top civil and military leadership was in talks with Iranian and US government officials to work towards a resolution of the conflict.

The government had recently shifted to daily fuel price adjustments due to international market fluctuations. To enhance transparency, the Oil and Gas Regulatory Authority (Ogra) will now publish daily fuel prices and their breakdowns on its website.

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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.