Petroleum dealers withdraw strike after government assurance

The All Pakistan Petroleum Dealers Association (APPDA) has canceled its planned strike for March 4 after reaching an agreement with the federal government on deregulation policies.

APPDA officials met Petroleum Minister Dr. Musadik Malik, who assured them that deregulation would not impact their profit margins. Following the meeting, APPDA spokesperson Noman Ali Butt announced the withdrawal of the strike, stating that their concerns had been addressed.

The government also pledged to consult petroleum dealers during the deregulation process and take measures to prevent oil smuggling from Iran.

The strike threat emerged last month after APPDA expressed concerns over the proposed deregulation plan, which would allow oil marketing companies to set their own prices. The association feared potential foreign dominance in the local market and a reduction in profit margins.

Meanwhile, Oil and Gas Regulatory Authority (Ogra) officials played down the concerns, calling them a misunderstanding. The government has reiterated its commitment to working closely with stakeholders to ensure a fair deregulation policy.

With the dispute resolved, petroleum dealers will continue operations as usual, while further consultations on deregulation are expected in the coming weeks.