ISLAMABAD (Dunya News) – The Pakistan Business Forum (PBF) has written to Prime Minister Shehbaz Sharif, calling for an immediate review of the daily petroleum pricing mechanism and urging measures to reduce the burden on businesses and consumers.
PBF President Khawaja Mehboob ur Rehman said the existing pricing formula had created uncertainty for the business community and the public, adding that it had also led to arbitrary increases in the prices of everyday consumer goods.
According to the forum, petrol prices have increased by Rs24 per litre and diesel prices by Rs60 per litre over the past five days. It said the government's responsibility during difficult economic conditions is to provide relief to the public rather than shifting the entire burden onto consumers.
Khawaja Mehboob ur Rehman said the economy requires immediate support and urged the prime minister to intervene, arguing that current government measures have failed to provide the needed relief.
The PBF also proposed capping the petroleum levy at a level equivalent to 18% general sales tax per litre and called for a reduction in the per-litre margins of oil marketing companies.
The forum opposed any increase in petroleum dealers' margins, stating that dealers already receive more than Rs8 per litre.
Khawaja Mehboob ur Rehman further urged the government not to pass any additional financial burden onto the public if the Ministry of Petroleum submits a proposal to increase dealers' margins.