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Petroleum division orders OMCs to ensure fuel availability amid dealer strike

09:12 AM | 5 Jul, 2024
Petroleum division orders OMCs to ensure fuel availability amid dealer strike

ISLAMABAD – In response to the strike call by the Pakistan Petroleum Dealers Association (PPDA), the Petroleum Division has instructed the Oil and Gas Regulatory Authority (Ogra) and oil marketing companies (OMCs) to guarantee the availability of fuel at petrol stations nationwide.

A joint statement from Ogra and the Petroleum Division emphasized, “All Oil Marketing Companies have been advised to ensure adequate supplies of petroleum products at petrol pumps and to keep them open. There is sufficient availability of petroleum products in the country.”

The Petroleum Division is taking steps to mitigate the strike’s impact, including setting up a monitoring cell in the DG (Oil) office to oversee fuel supply and coordinate with stakeholders.

Additionally, Ogra will deploy monitoring teams to assess the situation and take necessary actions. Chief secretaries have been requested to ensure maximum retail outlets remain operational and to permit oil tanker movements during the day to replenish stocks.

The strike follows failed negotiations between the government and petroleum dealers regarding advance tax. Abdul Sami Khan of PPDA stated, “We met government officials in Islamabad, but the talks produced no results, hence, we will go on strike as announced earlier.”

The dealers demand the withdrawal of the advance income tax from the 2024-25 budget, claiming it would devastate the petrol pump business already struggling with low profit margins and high inflation.

Khan warned that the tax would force them out of business, as it imposes double taxation, making fuel station operations unsustainable.

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 7 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 7, 2024 (Sunday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.65 for buying and 280.65 for selling on last day of the week.

Euro's buying rate moves up to 294.3 and selling rate is 297.8 while British Pound rate is 350.5 for buying, and 353.5 for selling.

UAE Dirham AED was at 75.05 and Saudi Riyal increased to 73.40.

Currency Symbol Buying Selling
US Dollar USD 277.65 280.65
Euro EUR 294.30 297.80
UK Pound Sterling GBP 350.50 353.50
U.A.E Dirham AED 75.05 75.85
Saudi Riyal SAR 73.40 74.20
Australian Dollar AUD 182.25 184.00
Bahrain Dinar BHD 740.12 748.12
Canadian Dollar CAD 202.90 204.90
China Yuan CNY 38.25 38.65
Danish Krone DKK 40.03 40.43
Hong Kong Dollar HKD 35.60 35.95
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 907.61 916.61
Malaysian Ringgit MYR 58.89 59.69
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.34 77.04
Singapore Dollar SGD 202.15 204.15
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.11 311.61
Thai Bhat THB 7.57 7.72

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