Fix petroleum prices daily: President KATI demands PM, Ogra to review decision

Korangi Association of Trade and Industry (KATI) President Muhammad Ikram Rajput has asked the Prime Minister, the federal petroleum minister and OGRA to reconsider the decision to set fuel prices every day. He wants a clear and foreseeable pricing mechanism designed after consulting industrial, commercial and transport bodies. Business Recorder reported that he framed the change as a threat to business costs and the wider economy.

Ikram Rajput argued that the economy needs stable policy, steadier conditions and confidence among businesses rather than prices that shift each day. He said that in just three days petrol rose by about Rs22 and diesel by more than Rs14, adding to the strain on households already facing inflation. Taxes, duties and levies make up about 37 percent of the petrol price and 31 percent of the diesel price, according to official data he cited, so he urged a review of the levy structure as well.

He cautioned that daily revisions make it hard for manufacturers and traders to calculate production costs and set product prices, while transport charges, freight and container costs would move with each change. Exporters could also lose competitiveness, and investor confidence may weaken, with small and medium enterprises likely to be hit hardest. Ikram Rajput further insisted that any fall in global oil rates should reach consumers, industry and transporters without delay, since increases are passed on immediately while cuts lag.