ISLAMABAD: The business community fully supports efforts of the Prime Minister Shahid Khaqan Abbasi to introduce and provide quality fuels to the masses, a business leader said Thursday.
Deregulating this sector will result in competition leading to price cuts, improved quality, and transparency, he added.
Availability of quality fuels will help masses and industrial sector save billion, it will attract foreign investment and many western carmakers awaiting accessibility to quality fuel will establish their manufacturing facilities in the country, said Atif Ikram Sheikh former President ICCI
He said that some elements involved in the business of fuel are mixing cheap kerosene oil into diesel for profit as the price difference between both fuels is over Rs33.
Such elements should be discouraged as they are inflicting huge losses on the masses and business community and tarnishing image of the country, he added.
Atif Ikram Sheikh who is also Group Leader of HCCI said that government should start using latest fuel marking technology to end adulteration in this sector as the country is producing and importing vehicles and motorcycles having the Euro II technology but the issue of fuel is not resolved.
For decades Pakistan has used lowest quality of petrol available in the market matching market of Somalia but now the situation has improved due to the efforts of PM Abbasi but the issue of diesel hasn’t been resolved which merits attention, he added.
He said that improved quality of petrol has resulted in increased mileage and reduced maintenance costs for the motorists which is encouraging.
Pakistan cannot attract foreign investment according to the potential as long as clean and quality fuel is not available across the country, he warned.