‘Daily changes in POL prices unacceptable’

Business Recorder reported that Muhammad Saleem Memon, president of the Hyderabad Chamber of Small Traders & Small Industry, has called the continuing movement in petrol and HSD rates unacceptable. He argued that day-to-day revisions are making it harder for small traders, factory owners, transporters and households to forecast costs and manage their budgets. Memon urged the government to adopt a balanced mechanism that reflects global oil markets without passing the full force of sharp international swings onto consumers and businesses.

He said the main concern is not only the level of fuel prices but the instability that comes with constant revisions. A trader buying stock cannot judge whether transport, raw materials or logistics will cost more or less the following day, and manufacturers struggle to estimate production expenses. He added that increases reach the market immediately, whereas reductions take longer to filter through to buyers.

The chamber cited recent figures showing that taxes and duties make up roughly Rs114 a litre of petrol and about Rs100 a litre of diesel. It also pointed to Bangladesh, which has held its petroleum prices steady for several months in a row despite the international energy crisis. Memon asked the government to set up a Price Stabilisation Mechanism, offer targeted support to small industrial units and SMEs, and consult business representatives before prices are adjusted.