Petrol pump owners delay planned strike

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.

 

The association had earlier announced an indefinite strike from Wednesday night after discussions with the government over the daily petroleum pricing mechanism failed to produce an agreement.

 

Speaking at a press conference, Malik said both sides agreed to defer the strike after the government assured petroleum dealers that their concerns would be addressed within the next two weeks.

 

The minister said the government has spent around PKR 100 billion since February 28 to cushion consumers from rising fuel prices and has introduced targeted subsidies for vulnerable segments of society amid volatility caused by the Iran-US conflict.

 

Malik noted that escalating regional tensions continue to push up global fuel prices and said APPPOA representatives had expressed support for the government's efforts to manage the situation. He added that Pakistan's civilian and military leadership remains engaged with US and Iranian officials in support of diplomatic efforts to ease the conflict.

 

Addressing dealers' demands, the minister said the issue of petroleum dealers' margins would be resolved through consultations with all stakeholders, with a summary to be presented to the federal cabinet for approval.

 

He also announced that the government will review the recently introduced daily fuel pricing mechanism in consultation with industry stakeholders after two weeks.

 

Last week, the government shifted to daily fuel price revisions to reflect fluctuations in international oil markets following renewed tensions in the Middle East.

 

Malik further said the Oil and Gas Regulatory Authority (Ogra) will publish daily fuel prices on its official website, along with an Urdu price breakdown, to improve transparency.