Karachi: Leading business associations across Pakistan have called on the federal government to review the existing system of taxes on petroleum products and abandon the policy of revising fuel prices on a daily basis. Trade leaders warned that daily fluctuations hinder accurate production cost assessments and long term business planning, creating severe economic uncertainty rather than fostering stability.

According to official data, taxes, duties, and government levies currently constitute approximately 37 per cent of the retail price of petrol and 31 per cent of diesel, placing a heavy burden on commercial operations and inflation weary consumers alike. Highlighting the recent price surges where petrol and diesel rose by roughly Rs22 and Rs14 over a three day period industry representatives urged the government to adopt a transparent, predictable pricing cycle, such as a fortnightly review mechanism.

Industrial leaders from the Korangi Association of Trade and Industry (KATI), the SITE Association of Industry, and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) emphasised that volatile global oil markets, compounded by high domestic levies, are damaging Pakistan's export competitiveness, widening the trade deficit, and pushing small and medium sized enterprises (SMEs) towards operational distress.