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The Nexus
BUSINESSJun 22 · 03:00 UTCDAWN[email protected] (Khaleeq Kiani)

Oil industry cries out over unilateral cut in fuel prices

The oil industry in Pakistan protests a unilateral 18–20% fuel price cut by the government, citing estimated losses of Rs105 billion for refineries and marketing companies. Industry executives warn of potential bankruptcy for several OMCs amid policy instability and the exit of foreign firms like Shell and Chevron.

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Mentioned
Oil Companies’ Advisory Council (OCAC)organizationPakistan State Oil (PSO)organizationPak-Arab Refinery CompanyorganizationShellorganizationTotal SAorganizationChevronorganizationNational Coordination and Management Council (NCMC)organizationfederal cabinetorganization
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