ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed Petroleum Minister Ali Pervaiz Malik to travel to Karachi and negotiate with oil refineries.
The prime minister ordered Malik to seek measures that could reduce prices of locally produced diesel and provide immediate relief to consumers.
Information Minister Attaullah Tarar, Economic Affairs Minister Ahad Khan Cheema, Climate Change Minister Musadik Malik and MNA Hamza Shehbaz attended the meeting.
According to the Prime Minister’s Office, Shehbaz instructed the petroleum minister to complete negotiations with refineries as soon as possible.
The directive followed the government’s decision to increase petrol prices by Rs3.34 per litre on Tuesday. It also raised high-speed diesel prices by Rs5.27.
The government introduced daily fuel price revisions amid global oil disruptions linked to the Middle East conflict.
Government seeks to avoid fuel dealers’ strike
Meanwhile, the Pakistan Petroleum Dealers’ Association had issued a 72-hour ultimatum over unresolved demands last week.
Dealers sought a variable margin linked to retail fuel prices instead of the existing fixed margin. They proposed an eight percent margin for petrol and diesel.
However, the government approved a 15.5 percent increase in dealers’ margins last Friday. The decision raised margins by Rs1.34 to Rs9.98 per litre.
The revised margin will take effect from September 1. Meanwhile, the government retained its daily fuel pricing mechanism despite dealers’ demand for changes.
The latest directive aims to reduce diesel prices while addressing growing pressure over fuel costs.
