Petroleum dealers postpone strike for two days

The Pakistan Petroleum Dealers Association (PPDA) has deferred strike to shut fuel pumps across the country for two days, reported 24NewsHD TV channel.

The development came after the association members held negotiations with State Minister for Petroleum Musadik Malik, who arrived in Karachi earlier today (Friday) in a bid to convince the PPDA to call off the nationwide strike.

In a statement, the PPDA said they might hold another round of negotiations with the government after 48-hours.

A day earlier, the PPDA announced shutting down fuel pumps across the country from July 22, demanding an increase in profit margins amid an inflation crisis.

"We will shut down all petrol pumps across Pakistan on July 22, 6pm," said the association, which further says it has more than 10,000 members.

In a statement, the association said the petroleum minister was informed about their concerns but to no avail. The official communique said interest rates and inflation have hit operators' businesses and called for the dealership margin to be increased.

Pakistan is dealing with a weakening currency and a prolonged period of inflation with the national rate hitting 29.4% in June, down from a record high of 38% in May.