Islamabad (Commerce Desk): Petrol pump owners have once again expressed concerns over the daily adjustment mechanism for petroleum product prices and have requested a meeting with the federal petroleum minister.
The All Pakistan Petrol Pump Owners Association has written a letter to Federal Petroleum Minister Ali Pervaiz Malik, informing him of the business difficulties arising from the daily pricing mechanism.
According to the association, frequent changes in petroleum product prices are causing financial losses for petrol pump owners, while determining the value of their existing stock has also become difficult.
The letter states that repeated price adjustments are disrupting cash flow and inventory management. It adds that the buying and selling of petroleum products have become increasingly uncertain, affecting routine business operations as well.
The association has demanded that a practical and transparent system be developed for determining petroleum product prices and that petrol pump owners be consulted in the process.
The letter further states that the pricing system should protect the interests of petrol pump owners while also ensuring the uninterrupted supply of petroleum products to the public.
Requesting a meeting with the federal petroleum minister, the association said it would present the business challenges faced by petrol pump owners and practical proposals to address them during the meeting.
The letter was written by Nauman Ali Butt, vice chairman of the All Pakistan Petrol Pump Owners Association.