ISLAMABAD
The Pakistan Business Forum (PBF) has written a letter to Prime Minister Shehbaz Sharif, calling for an immediate revision of the daily petroleum price determination formula.
PBF President Khawaja Mehboob-ur-Rehman stated that the government should urgently review the new system of daily price adjustments, arguing that the formula has paralyzed both the business community and the general public. He added that the uncertainty has led to arbitrary hikes in the prices of daily-use commodities.
He pointed out that in just five days, petrol prices have been increased by 24 rupees per litre, while diesel has gone up by 60 rupees per litre. Rehman emphasized that in times of economic difficulty, the government’s role should be to provide relief to the people, not to transfer additional burdens onto them.
However, he noted that instead of supporting the economy, the government’s approach appears to be doing the opposite.
The PBF president appealed to the Prime Minister, stating that his personal intervention has become inevitable, and urged him to stand with the public and the business community.
He demanded that the per-litre petroleum levy be fixed at a level equivalent to the 18% GST, and also called for a reduction in the per-litre margins of oil marketing companies and petroleum dealers.
