ISLAMABAD: All Pakistan Oil Tankers Contractors Association (APOTCA) on Tuesday rejected the proposed deregulation of prices of petroleum products and said the federal government should consult them in this respect as their business is at the stake.
The rejection to the proposed deregulation of the prices of petroleum products by the contractors surfaced during a press conference of the association.
An office-bearer of the association, Nouman Ali Butt, said that the oil tankers contractors rejected the proposed deregulation of the prices of petroleum products and declared that they would go on a countrywide strike in a couple of weeks if the Oil and Gas Regulatory Authority (OGRA) does not consult with them before taking any final decision.
He said the oil tankers were charging 78 paisas on short and more on long distances under Inland Freight Equalization Margin (IFEM) fixed by the OGRA. “Deregulation will disband OGRA and no regulation will be there to safeguard their commission payable by oil marketing companies,” he added.
He said that the government was in an advance stage to deregulate the prices of petroleum products because when the prices increase in the international oil market then the government has to jack up the prices and the masses have to bear the burden.
“It is a political decision to save the federal government from growing criticism which it has to face by raising prices of petroleum products,” he added.
Butt further said that the government should take all the stakeholders in confidence before taking any decision on de-regulation. He further said that around 18,000 oil tankers’ men and families were attached with this business, and deregulation without safeguarding their margin and interest would destroy their business.
Earlier, Jamshad Khan, general secretary Oil Tankers Owners Association said it seemed the government was directionless on deregulation as it was doing without any purpose or consultation.
Copyright Business Recorder, 2022
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