Govt urged to review petroleum pricing mechanism

Muhammad Ikram Rajput, president of the Korangi Association of Trade and Industry (KATI), has asked the government to review the petroleum pricing mechanism. According to Business Recorder, he wants a transparent and predictable system in which fuel prices are set at either monthly or 15-day intervals. He argued this would help industrialists, traders and transporters estimate costs and plan business decisions more effectively.

Rajput welcomed the decision by goods transporters to push back the nationwide strike by 40 days after talks with government representatives. He called the move important for the economy, industry and supply chains, and praised the Prime Minister for helping resolve the transport sector's long-standing issues. He also said the nine-day strike had badly disrupted industrial and commercial activity, along with exports and imports.

Rajput said frequent and unpredictable price changes raise production and transport costs and make long-term planning harder. He urged the government to implement all commitments made during negotiations so that transporters' concerns are settled permanently and future strikes are avoided. He added that Pakistan cannot afford prolonged disruptions given the regional and global situation.