Amid continued inflation in the country, the Pakistan Petroleum Dealers Association (PPDA) on Thursday announced that all petrol pumps will be shut down as part of a nationwide strike to demand increase in profit margins. The strike will take place from July 22, Geo News reported.
"We will shut down all petrol pumps across Pakistan on July 22, 6pm," said the 10,000-member association, adding that their concerns have been ignored by the Petroleum Minister of Pakistan.
The strike comes as Pakistan is dealing with a weakening currency and prolonged inflation that went as high as 38% in May before coming down to 29.4%.
The association said that the businesses of petrol pump operators were heavily affected by the high interest rates and inflation, and they have called for increase in dealership margin. Additionally, petroleum sales have dipped by 30 per cent as Iranian fuel is being smuggled in Pakistan.
As many as 8,000-9,000 operators represented by the PPDA will be shut down from tomorrow, majorly impacting the supply of petrol in the country.
Pakistan's oil industry had sought Rs 12/litre margin on diesel and petrol for oil marketing companies in May, in view of the high cost of doing business that created financial hardships. The challenges of the nation's oil industry is compunded by increased interest rates, higher demurrages and high turnover tax.
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