FPCCI President Atif Ikram Sheikh has expressed grave concerns over rising global oil prices, warning they are crippling Pakistan’s export competitiveness and threatening widespread industrial shutdowns.
He said the surge in prices of HSD and furnace oil, combined with high domestic levies, has inflated logistics, power generation, and manufacturing costs. This is pushing Pakistan’s export sectors behind regional competitors like Bangladesh, India, and Vietnam.
FPCCI’s Key Demands:
- Immediate suspension of Petroleum Development Levy (PDL) for export-oriented industries
- Rationalize electricity and gas tariffs to regional levels
- Aggressive cut in SBP policy rate to provide affordable working capital
- Fast-track shift to renewable energy to reduce oil dependence
Mr. Sheikh cautioned that SMEs will be hit hardest due to the liquidity crisis. Without targeted relief, the country faces factory closures, job cuts, and a wider trade deficit.
“Passing the full brunt of global oil shocks to industry is completely unsustainable,” he added.
