The Petroleum Dealers Association in Pakistan have announced a nationwide strike on Saturday (July 22) as they want higher profit margins, which have been impacted by inflation.

They want their profit margins to be doubled from 2.4 per cent to 5 per cent.

<h2>Want higher profit margins</h2>

In a statement on Thursday (July 21), the retailers, which are nearly 10,000, said that they would shut down all petrol pumps across the country at 6 pm if their demands are unmet.

It blamed the petroleum ministry for forcing them to announce a countrywide strike alleging that they did not pay heed to their demands

“We approached state minister Musadik Malik and published our appeals in all the main newspapers. He promised us to visit Karachi and that’s why we did not take any major step but he did not visit.”

It blamed the petroleum ministry for a countrywide strike saying that the authorities did not pay heed to their demands.

<h2>Unauthorised sale of Iranian oil impacting profits&nbsp;</h2>

The official statement further said that interest rates and inflation have hit fuel pump operators' businesses and called for the dealership margin to be increased.

Moreover, they want the government to clamp down on the unauthorised sale of Iranian petrol and diesel, claiming that it has eaten into their profits.

Addressing a press conference at the Karachi Press Club on Thursday, Abdul Sami Khan, spokesperson for the association, said that due to the prolonged strike, petrol pumps will only be operational for two days during the month of Muharram, specifically on the 9th and 10th, reports Express Tribune.

Abdul Sami claimed that the unauthorised sale of Iranian petrol and diesel has caused a 30 per cent decline in the revenues of authorised petroleum dealers.

The frustrations of the petroleum association come at a time when the South Asian country is grappling with a weakening currency—which is exasperated due to spike in oil prices—and a prolonged period of inflation with the national rate hitting 29.4 per cent in June, down from a record high of 38% in May.

As a result, it has been difficult for the oil industry to import oil, whose prices have been increasing since the start of the Russia-Ukraine war.

(With inputs from agencies)

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The Petroleum Dealers Association in Pakistan have announced a nationwide strike on Saturday (July 22) as they want higher profit margins, which have been impacted by inflation.

The Petroleum Dealers Association in Pakistan have announced a nationwide strike on Saturday (July 22) as they want higher profit margins, which have been impacted by inflation. They want their profit margins to be doubled from 2.4 per cent to 5 per cent. Want higher profit margins In a statement on Thursday (July 21), the retailers, which are nearly 10,000, said that they would shut down all petrol pumps across the country at 6 pm if their demands are unmet. It blamed the petroleum ministry for forcing them to announce a countrywide strike alleging that they did not pay heed to their demands “We approached state minister Musadik Malik and published our appeals in all the main newspapers. He promised us to visit Karachi and that’s why we did not take any major step but he did not visit.” It blamed the petroleum ministry for a countrywide strike saying that the authorities did not pay heed to their demands. Unauthorised sale of Iranian oil impacting profits The official statement further said that interest rates and inflation have hit fuel pump operators' businesses and called for the dealership margin to be increased. Moreover, they want the government to clamp down on the unauthorised sale of Iranian petrol and diesel, claiming that it has eaten into their profits. Addressing a press conference at the Karachi Press Club on Thursday, Abdul Sami Khan, spokesperson for the association, said that due to the prolonged strike, petrol pumps will only be operational for two days during the month of Muharram, specifically on the 9th and 10th, reports Express Tribune. Abdul Sami claimed that the unauthorised sale of Iranian petrol and diesel has caused a 30 per cent decline in the revenues of authorised petroleum dealers. The frustrations of the petroleum association come at a time when the South Asian country is grappling with a weakening currency—which is exasperated due to spike in oil prices—and a prolonged period of inflation with the national rate hitting 29.4 per cent in June, down from a record high of 38% in May. As a result, it has been difficult for the oil industry to import oil, whose prices have been increasing since the start of the Russia-Ukraine war. (With inputs from agencies) WATCH WION LIVE HERE

Pakistan’s petroleum dealers announce countrywide strike from July 22

Amid rising inflation, the Pakistan government on Wednesday hiked petrol prices by another Rs 24 per litre.

Petrol will now cost Rs 233.89 per litre and diesel is set to cost Rs 263.31 after it was raised by Rs16.31.

Finance Minister Miftah Ismail said the rise in fuel prices was due to high international prices while blaming the previous Imran Khan government for the crisis.

<a href="https://www.wionews.com/south-asia/pak-hikes-prices-of-petroleum-products-power-massively-as-chinese-banks-agree-to-refinance-with-23-bn-484583">Also Read:&nbsp;Pak hikes prices of petroleum products, power massively&nbsp;</a>

The Pakistan government has raised the price of fuel for the third time in the last 20 days amid worsening economic situation in the country.

Kerosene oil and light diesel are also set to cost more as the government battles to control prices. Pakistan has been trying to control its fiscal deficit and attempting&nbsp;to secure bailout money from the International Monetary Fund(IMF).

Watch:&nbsp;Pakistan minister asks people to drink less tea

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The IMF has insisted on ending fuel subsidies. Reports claim the IMF is ready to release funds if the Pakistan government agrees to remove fuel subsidies.

Last month while announcing the fuel price hike, Pakistan's new Prime Minister Shehbaz Sharif had said it was needed to save the country from bankruptcy.

The country had witnessed protests in Lahore, Karachi and Islamabad amid rising inflation and fuel price hike earlier this month.

(With inputs from Agencies)

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Amid rising inflation, the Pakistan government on Wednesday hiked petrol prices by another Rs 24 per litre. Petrol will now cost Rs 233.89 per litre and diesel is set to cost Rs 263.

Amid rising inflation, the Pakistan government on Wednesday hiked petrol prices by another Rs 24 per litre. Petrol will now cost Rs 233.89 per litre and diesel is set to cost Rs 263.31 after it was raised by Rs16.31. Finance Minister Miftah Ismail said the rise in fuel prices was due to high international prices while blaming the previous Imran Khan government for the crisis. Also Read: Pak hikes prices of petroleum products, power massively The Pakistan government has raised the price of fuel for the third time in the last 20 days amid worsening economic situation in the country. Kerosene oil and light diesel are also set to cost more as the government battles to control prices. Pakistan has been trying to control its fiscal deficit and attempting to secure bailout money from the International Monetary Fund(IMF). Watch: Pakistan minister asks people to drink less tea The IMF has insisted on ending fuel subsidies. Reports claim the IMF is ready to release funds if the Pakistan government agrees to remove fuel subsidies. Last month while announcing the fuel price hike, Pakistan's new Prime Minister Shehbaz Sharif had said it was needed to save the country from bankruptcy. The country had witnessed protests in Lahore, Karachi and Islamabad amid rising inflation and fuel price hike earlier this month. (With inputs from Agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pak government raises fuel prices again; petrol, diesel at new high

Pakistan’s petroleum dealers launched a nationwide protest against the government on Thursday for failing to raise their profit margins.

Several privately-owned petrol stations were closed across the country in response to the call by the Pakistan Petroleum Dealers Association (PPDA).

According to the PPDA handout, a meeting of petrol dealers was held at Faletti's Hotel in Lahore on Saturday, where it was noted that the government had promised to raise the dealers' profit margin three years ago.

"The promise remains unfulfilled to date ... [and] now, because of [growing] inflation and increase in the prices of petroleum products, it has become difficult for dealers to run fuel stations," the press release read.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/entire-nation-is-crying-maryam-nawaz-slams-pakistan-pm-imran-khan-421413">'Entire nation is crying': Maryam Nawaz slams Pakistan PM Imran Kha</a>n

However, the association did not mention when the strike will end, according to the Dawn newspaper.

The retailers had been seeking a nine-rupee rise—which the government has been reluctant to do so.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/sugar-crisis-in-pakistan-imran-khan-govt-decides-to-put-up-entire-sugar-stock-for-sale-427856">Sugar crisis in Pakistan: Imran Khan govt decides to put up entire sugar stock for sale</a>

Pakistan’s energy minister Hammad Azhar categorically said that only "legitimate demands" will be accepted and warned that those seeking a nine-rupee raise would face disappointment.

The minister asked the dealers to reconsider, saying that their protest was inconveniencing the public.

However, he made it clear that the government will not accept any illegitimate demands.

"Some groups want to use this strike to have a raise of nine rupees," the Dawn quoted the minister as saying.

"A nine-rupee raise cannot be granted just to benefit a few companies. Legitimate demands will be accepted, illegitimate ones will be not," declared the minister.

Meanwhile, a meeting is underway between the representatives of all the major oil marketing companies, petroleum dealers and officials of the petroleum division.

(With inputs from agencies)

Pakistan’s petroleum dealers launched a nationwide protest against the government on Thursday for failing to raise their profit margins. Several privately-owned petrol stations were closed across the country in response to the call by the Pakistan Petroleum Dealers Association (PPDA).

Pakistan’s petroleum dealers launched a nationwide protest against the government on Thursday for failing to raise their profit margins. Several privately-owned petrol stations were closed across the country in response to the call by the Pakistan Petroleum Dealers Association (PPDA). According to the PPDA handout, a meeting of petrol dealers was held at Faletti's Hotel in Lahore on Saturday, where it was noted that the government had promised to raise the dealers' profit margin three years ago. "The promise remains unfulfilled to date ... [and] now, because of [growing] inflation and increase in the prices of petroleum products, it has become difficult for dealers to run fuel stations," the press release read. Also read | 'Entire nation is crying': Maryam Nawaz slams Pakistan PM Imran Khan However, the association did not mention when the strike will end, according to the Dawn newspaper. The retailers had been seeking a nine-rupee rise—which the government has been reluctant to do so. Also read | Sugar crisis in Pakistan: Imran Khan govt decides to put up entire sugar stock for sale Pakistan’s energy minister Hammad Azhar categorically said that only "legitimate demands" will be accepted and warned that those seeking a nine-rupee raise would face disappointment. The minister asked the dealers to reconsider, saying that their protest was inconveniencing the public. However, he made it clear that the government will not accept any illegitimate demands. "Some groups want to use this strike to have a raise of nine rupees," the Dawn quoted the minister as saying. "A nine-rupee raise cannot be granted just to benefit a few companies. Legitimate demands will be accepted, illegitimate ones will be not," declared the minister. Meanwhile, a meeting is underway between the representatives of all the major oil marketing companies, petroleum dealers and officials of the petroleum division. (With inputs from agencies)

Pakistan petroleum dealers launch nationwide strike against lower profit margins

Pakistan government has increased the prices of all petroleum products by up to nearly Pakistani Rupees 26.

Pakistan: Imran Khan government hikes petrol prices by 34%

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Pakistan’s petroleum dealers announce countrywide strike from July 22

Pak government raises fuel prices again; petrol, diesel at new high

Pakistan petroleum dealers launch nationwide strike against lower profit margins

Pakistan: Imran Khan government hikes petrol prices by 34%