The Pakistan Petroleum Dealers Association (PPDA), which had planned a nationwide strike demanding increase in profit margins amid high inflation, has postponed the strike for two days after reportedly receiving a written assurance from the Shehbaz Sharif-led government.
According to ARY News, the country's Minister of State for Petroleum Musadik Malik held talks with the PPDA delegation at the headquarters of Pakistan State Oil Company (PSO), after the petroleum dealers had called for the strike.
However, the talks remained inconclusive as the PPDA delegation rejected Malik's offer to increase the margin by Rs 2.65 per litre while the dealers were demanding Rsc5 per litre hike. A committee was formed after the discussions to finalise the dealers margin in two days. Another discussion will be held after this period.
"We will shut down all petrol pumps across Pakistan on July 22, 6pm," said the 10,000-member association on Thru, 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% in June.
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.
