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KARACHI: Amid praise from oil industry stakeholders for the proposed daily fuel price mechanism, business circles have expressed serious reservations over the move, fearing that it could trigger a fresh crisis for industry and exports.
SITE Association of Industry President Abdul Rehman Fudda urged Prime Minister Shehbaz Sharif to immediately review and withdraw the policy, saying the country’s manufacturing sector was already under immense pressure due to high electricity and gas tariffs, excessive taxation and steadily rising production costs.
He said introducing daily revisions in petroleum prices would further deepen uncertainty for businesses, making long-term planning and cost management increasingly difficult.
With industries already struggling under high energy costs and policy uncertainty, he said export-oriented manufacturers were particularly vulnerable because export contracts were typically finalised several months before delivery.
