Gulf Oil Disruptions, Rising Costs Alarm Industry

The oil industry is increasingly worried about potential supply disruptions in the Gulf region and escalating operational expenditures. Local refineries and Oil Marketing Companies (OMCs) have appealed to the government to consider cutting taxes on petroleum products as a measure to mitigate these pressures. They argue that tax reductions would be more effective than merely adjusting the existing fuel pricing formula. Sustained high crude oil prices due to such disruptions could put further pressure on Pakistan's import bill, potentially weakening the PKR against the USD and making gold more expensive in local currency.

بحوالہ / Source: tribune.com.pk