KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has warned against deregulation of fuel prices.
Addressing a press conference in Karachi, Pakistan Petroleum Dealers Association, Abdul Sami Khan said deregulation of fuel prices will cause huge damage to the industry and the masses will be deprived of quality fuel products.
He said petrol and diesel would be sold at exorbitant rates in the far-flung areas after deregulation of the fuel prices. Deregulation of oil prices could plunge the nation into a state of hyperinflation and economic instability, he added.
Threatening a protest against the expected deregulation of fuel prices, Abdul Sami Khan vowed to challenge the decision in the courts.
The reaction of the Pakistan Petroleum Dealers Association came after, the OGRA proposed phase-wise deregulation of fuel prices in the country.
As per details, the main unit was closed due to high stocks of diesel, which have not been lifted because of rampant fuel smuggling in the domestic market.
The refinery said the oil marketing companies were not buying fuel from them as the demand for fuel was being met through smuggled fuel in the country.
