Karachi: The President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Atif Ikram Sheikh, has called on the federal government to reassess and rationalize petroleum pricing, particularly high-speed diesel (HSD), to ease the cost burden on businesses in Pakistan. He emphasized that the current fuel pricing approach is adversely affecting logistics, transportation, and agriculture, sectors crucial to the nation's economic framework.

According to Federation of Pakistan Chambers of Commerce and Industry, Mr. Sheikh highlighted the impact of high diesel prices on the cost of doing business, with implications for regional competitiveness and export growth. He criticized the reliance on petroleum development levy (PDL) as a revenue tool, noting that it exacerbates costs for both small and medium enterprises (SMEs) and larger manufacturers.

Mr. Sheikh appealed to the Ministry of Finance and the Ministry of Energy to consider the broader economic benefits of lowering diesel prices, which could alleviate inflationary pressures on goods transportation and stabilize food prices. He argued that Pakistani exporters face disadvantages due to higher fuel prices compared to regional counterparts like India, Bangladesh, and Vietnam.

He warned that without competitive fuel pricing and logistics costs, Pakistani manufacturers could face closures and loss of market share. The FPCCI President urged the government to reassess tax margins on petroleum products to provide relief and support economic growth, stressing the importance of a business-friendly policy framework to enhance industrial growth, exports, and job creation.