Petroleum dealers demand higher profit margins,protest

The petroleum dealers in cash-strapped Pakistan have threatened to hold a nationwide strike from Saturday as they are dissatisfied with Shehbaz Sharif-led government on its failure to increase their profit margins, a media report said on Friday. Speaking at a press conference here, Pakistan Petroleum Dealers Association (PPDA) Chairman Samiullah Khan, expressed their frustration over the government’s inability to raise their profit margin to 5 per cent on the sale of two major petroleum products, The Express Tribune newspaper reported.
Currently fixed at Rs 6 per litre (2.4 per cent), the 5 per cent margin would amount to over Rs 12 per litre, given the prevailing petrol and diesel prices of Rs 253/litre and Rs 253.50/litre, respectively, the report said. The latest fortnightly work for determining petroleum product prices, effective from July 16, indicated that the dealers were receiving Rs 7/litre instead of the claimed Rs 6/litre.
However, this Rs 7 margin falls significantly short of the 5 per cent demand the dealers have been persistently making, a promise that was made by the Shehbaz government after assuming power in April 2022. A dealer later told the newspaper that Minister of State (Petroleum Division) Musadik Malik had reached out to the association’s chairman, pledging to hold a meeting with them in Karachi on Saturday.
However, if no meeting occurs or there is no satisfactory outcome, the strike will continue, except on the two days of Muharram 9-10 (falling on July 28-29) to ensure that the religious event is not affected.