KARACHI: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has welcomed the federal government’s recent decision to slash High-Speed Diesel (HSD) prices by a massive Rs134.81 per litre – as the apex body had strongly rejected the earlier disastrous increase on April 2 – and, profoundly advocated for the price rationalization of diesel and a protective mechanism for trade and industry.
He apprised that the apex trade body termed this steep reduction – bringing the HSD rate down from a crippling Rs520.35 to Rs385.54 per litre – a much-needed breather for trade, industry and the general public alike.
FPCCI Chief also commended the Rs11.83 per litre reduction in petrol prices (now at Rs366.58) will provide supplementary relief across the supply chain – however, he maintained, FPCCI advocates further temporary reduction or suspension of Petroleum Development Levy (PDL) on petrol price until the regional oil markets stabilize.
Atif Ikram Sheikh appreciated the government’s move, highlighting its positive ripple effect on the macro-economy and the survival of Pakistan’s export-oriented sectors.
When HSD crossed the Rs520 mark, it threatened to stall our textile and manufacturing engines. Diesel is the backbone of our economy; directly fuelling our transport; agriculture and manufacturing sectors, he added.
Atif Ikram Sheikh explained that the relief will significantly reduce the exorbitant cost of doing business – potentially lowering production overheads by 5–10 percent for key industries and making our exports more competitive in the international market. We urge the government to maintain this momentum and cascade further global oil price benefits to the domestic industry as soon as possible.
Saquib Fayyaz Magoon, SVP FPCCI, pointing out the immediate financial relief it provides to Small and Medium Enterprises (SMEs) – and, the national logistics infrastructure as a whole.
Saquib Fayyaz Magoon pointed out that logistics and freight charges have been crippling the supply chain across the country – with transport fares having recently spiked by as much as 60% during the fuel crisis. Bringing diesel down to Rs385.54 per litre shall force a necessary correction in the transportation costs of raw materials and finished goods, he added.
Abdul Mohamin Khan, VP & Regional Chairman Sindh, emphasized the specific benefits for the province’s economic landscape – particularly for the agriculture and heavy local manufacturing sectors.
Abdul Mohaim Khan elaborated that Sindh is a major hub of Pakistan for both industrial output and agricultural yields. The previous fuel shock made crop sowing increasingly unviable and threatened massive losses ahead of the harvest season. This Rs134.81 per litre reduction shall lower the operational costs for our farmers utilizing diesel-powered tractors; and, irrigation pumps – as well as for industries relying on heavy logistics originating from the ports of Karachi.
Copyright Business Recorder, 2026
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