STAFF REPORTER
IS LAMABAD Leader of the Petroleum Dealers Association and All Pakistan CNG Association Ghiyas Abdullah Paracha on Tuesday said the petroleum dealers have reached to the brink of bankruptcy due to receded oil prices and nationwide lockdown. The government should come forward to rescue this important sector which is moving the w heels of the economy, he said. In a statement on Tuesday, Ghiyas Paracha said that the cost of doing business is increasing w hile profit continue to decline which has pushed dealers to the wall therefore the government should provide them with some relief in electricity bills and taxes. He said that the oil prices have fallen to unprecedented level in the international market which is an opportunity that should be used to introduce a new profit formula for the petroleum dealers. He informed that the recent oil price reduction by the government resulted in heavy losses to the oil dealers, the lockdow n has reduced the sale of fuel while safety measures has increased cost of doing business. Ghiyas Paracha said that the fuel supply chain has suffered a lot due to recent disruption compelling dealers to increase storage amid low sales which is an added problem
