Fix petroleum prices daily: President KATI demands PM, Ogra to review decision

KARACHI: President of Korangi Association of Trade and Industry (KATI) Muhammad Ikram Rajput has demanded that the Prime Minister, Federal Minister for Petroleum and OGRA to review the decision to fix petroleum prices daily and, after consulting the industrial, commercial and transport sectors, create a transparent and predictable system that would protect business costs, the public and the national economy from unnecessary fluctuations.

President Kati said that Pakistan’s economy needs policy continuity, economic stability and business confidence instead of daily changing prices.

He expressed serious reservations over the government’s decision to fix the prices of petroleum products on a daily basis, saying that this move will cause severe hardship to industry, trade, transport and the public and will increase uncertainty instead of economic stability.

He said that in the last three days, the price of petrol has been increased by about Rs22 while the price of diesel has been increased by more than Rs14, which is an additional burden on the inflation-stricken people.

If fuel prices change on a daily basis, industrialists and traders will not be able to accurately determine the cost of production and product prices, which will severely affect business planning.

He said that according to official data, about 37 percent of the price of petrol and 31 percent of the price of diesel consists of various taxes, duties and levies.

The government should also review the system of taxes and levies instead of passing the burden of global price fluctuations directly on the public and industry.

President KATI said that every day the new price of fuel means new transport costs, new fares and new prices.

The increase in the costs of goods transport, container services, delivery of raw materials and finished products will affect the entire supply chain, which will have an impact on the prices of every sector, including essential commodities.

He said that the daily change in prices will also affect the competitiveness of the export industry as it will become difficult to accurately estimate the cost of production, while investor confidence is also likely to weaken.

Small and medium-sized businesses will be the most affected by this situation. Ikram Rajput said that the benefit of the reduction in the prices of petroleum products in the global market should also be immediately passed on to the public, industry and transporters.

It is unacceptable to pass on price increases immediately and decreases with delay.

Copyright Business Recorder, 2026