KARACHI: The Salt Manufacturers Association of Pakistan (SMAP) has appealed to Prime Minister Shehbaz Sharif to immediately reconsider the government\u2019s decision to introduce daily pricing of petroleum products, warning that the policy could prove disastrous for industry, trade and the broader economy. SMAP Founder Chairman Ismail Suttar said the manufacturing sector was already struggling under the burden of high electricity and gas tariffs, elevated taxation and rising operational costs. Introducing daily fluctuations in petroleum prices, he cautioned, would further escalate production costs, disrupt business planning and make it increasingly difficult for industries to remain operational. \u201cThe industrial sector is already operating under severe financial pressure. If fuel prices continue to change every day, production costs will become unpredictable, business confidence will erode and many industries may find it impossible to continue operations,\u201d he said. Ismail Suttar urged Prime Minister Shehbaz Sharif to withdraw the decision, arguing that while the government frequently speaks of promoting industrial growth and investment, policies that create uncertainty for businesses undermine those objectives. News Desk
\nHe maintained that a thriving industrial sector was essential for economic stability and government revenue generation. \u201cIf industries are forced to shut down due to unsustainable costs, the government\u2019s own tax revenues will suffer. Sustainable economic growth can only be achieved when businesses are allowed to operate in a stable and predictable environment,\u201d he added.
\nExpressing concern over the wider economic implications, Suttar said daily revisions in petroleum prices would not only increase costs for manufacturers but would also trigger another wave of inflation, placing an additional burden on consumers who were already struggling with the rising cost of living.
\nReferring specifically to the salt industry, he noted that salt is a low-value but high-volume commodity, making transportation costs a significant component of its overall price. Daily fluctuations in fuel prices, he said, would create uncertainty in freight charges, disrupt supply chain planning and make it extremely difficult for manufacturers and traders to determine competitive market prices.
\nAppealing directly to the Prime Minister, Ismail Suttar proposed that the government adopt a weekly petroleum pricing mechanism instead of a daily one. He also urged the government not to implement the new system without prior consultation with industry representatives, trade bodies and other stakeholders.
\n\u201cAny policy that has far-reaching consequences for businesses and the national economy should be formulated through meaningful consultation. A predictable pricing framework will help protect industry, safeguard employment and support sustainable economic growth,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI: The Salt Manufacturers Association of Pakistan (SMAP) has appealed to Prime Minister Shehbaz Sharif to immediately reconsider the government\u2019s decision to introduce daily pricing of petroleum products, warning that the policy could prove disastrous for industry, trade and the broader economy. SMAP Founder Chairman Ismail Suttar said the manufacturing sector was already struggling under […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-557447","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n