LCCI seeks resolution of petroleum dealers’ issues

LAHORE: President of the Lahore Chamber of Commerce and Industry Faheem Ur Rehman Saigol has urged the federal government to immediately engage with petroleum dealers and address their concerns through meaningful consultation following their announcement of an indefinite nationwide strike. He, in statement on Wednesday, said that any disruption in fuel supplies would not only affect transportation and logistics but would also have far-reaching consequences for trade, industry, agriculture and daily economic activity across the country. The LCCI president said that petroleum products serve as the backbone of economic activity and any interruption in their supply chain could create serious challenges for businesses already struggling with multiple economic pressures. Faheem said that the announcement of a nationwide strike by thousands of petroleum outlets should be viewed as a matter requiring immediate attention. He observed that when a major stakeholder of the petroleum supply chain raises serious reservations about a policy decision, those concerns deserve to be heard and addressed through institutional consultation. Commenting on the proposed daily petroleum pricing mechanism, the LCCI President said that the business community has serious concerns regarding the uncertainty that such a system could create. He noted that fuel prices have a direct bearing on transportation costs, production expenses, distribution networks, freight charges and retail pricing. Frequent changes in petroleum prices would make it increasingly difficult for businesses to accurately calculate costs, prepare budgets and make informed commercial decisions. He stated that the business community is already facing enormous challenges arising from persistent inflation, rising utility tariffs, higher taxation, elevated financing costs and declining consumer purchasing power. Market sales have already witnessed a significant decline due to prevailing economic conditions and reduced business timings. At a time when traders and industrialists are trying to sustain operations and preserve employment, additional uncertainty in a critical area such as fuel pricing could further weaken business confidence and economic activity, he observed. He emphasized that petroleum pricing is not merely an issue for fuel dealers; its impact extends throughout the economy. Any change in fuel prices directly affects transportation charges, production costs, agricultural inputs, consumer prices and ultimately inflation. Therefore, decisions regarding petroleum pricing mechanisms should be taken after extensive consultation with all stakeholders, including petroleum dealers, chambers of commerce, trade bodies, transporters and industrial representatives. Copyright Business Recorder, 2026

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