Malik said volatility in global petroleum prices remained a key concern, particularly amid regional tensions.
ISLAMABAD: The All Pakistan Petrol Pumps Owners Association (APPPOA) postponed its planned nationwide strike after reaching an agreement with the federal government, with the Petroleum Dealers Association also endorsing the decision.
Petrol pump owners and dealers had earlier announced a 24-hour nationwide shutdown beginning Thursday to protest the government’s proposed shift to a daily petroleum pricing mechanism.
Speaking at a joint press conference with Petroleum Minister Ali Pervaiz Malik, representatives of the petroleum sector said the government had assured them their concerns would be addressed.
They said authorities had committed to increasing petroleum dealers’ margins and expressed confidence that the issue would be resolved within two weeks.
APPPOA Information Secretary Nadeem Khan said the strike was deferred after the government pledged to meet the stakeholders’ demands.
He added that the issue of dealers’ commissions was expected to be settled within two weeks, while the proposed daily fuel pricing system would be implemented on a trial basis during the same period.
Ali Pervaiz Malik said the government would submit a summary on the proposed increase in dealers’ margins to the federal cabinet and review the daily pricing mechanism with petroleum sector organizations after the trial period.
He said the government aimed to ensure transparency in fuel pricing and pass on the benefits of lower international oil prices to consumers in a timely and transparent manner.
The minister said the government had provided targeted subsidies worth billions of rupees since Feb. 28 and developed a mechanism to support consumers. He also acknowledged the role of petroleum dealers in ensuring transparent implementation of the pricing system.
Addressing broader energy market challenges, Malik said volatility in global petroleum prices remained a key concern, particularly amid regional tensions.
More read, Pakistan faces fuel disruption as pump owners go on a nationwide strike
He said the government would continue consultations with stakeholders while operating within its fiscal constraints and existing policy commitments.
