Attock Refinery increases lube oil price by Rs 9
Staff Report
KARACHI: Attock Oil Refinery (ARL) has increased the prices of lube base oil by Rs 9 per litre, which would result in sharp increase in all the lubricating oils, adding another burden of Rs 11 per litre to the end-consumers.
All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain while condemning this arbitrary act of the refinery announced on Saturday, said that this is the sixth increase by Attock and National Refinery Limited (NRL) and they have become habitual of increasing prices unabatedly and unchecked.
He warned that this increase could result in the price spiral of every brand of lubricating oil by another Rs 11 per litre in the retail market and on all brands.
While demanding imposition of a price control mechanism on lube base oil manufacturers, Husain said that ARL and NRL, the major shareholders of the lube base oil manufacturers had so far increased the price by Rs 51.50 per litre in the last 14 months and this was the sixth announcement of price increase in the lube base oil during the period.
“The lubricating oil manufacturers are constantly being ignored by the lube base oil manufacturer and raising prices without any consultation with the stakeholders on vague pretexts,” alleged Husain, and asked the government to intervene into the matter and get the refinery’s decision reversed.
Husain said that the oil refinery was increasing prices frequently on various pretexts and warned that if the trend continued the lubricant manufacturers would be forced to shut down their businesses.
KARACHI: Attock Oil Refinery (ARL) has increased the prices of lube base oil by Rs 9 per litre, which would result in sharp increase in all the lubricating oils, adding another burden of Rs 11 per litre to the end-consumers.
All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain while condemning this arbitrary act of the refinery announced on Saturday, said that this is the sixth increase by Attock and National Refinery Limited (NRL) and they have become habitual of increasing prices unabatedly and unchecked.
He warned that this increase could result in the price spiral of every brand of lubricating oil by another Rs 11 per litre in the retail market and on all brands.
While demanding imposition of a price control mechanism on lube base oil manufacturers, Husain said that ARL and NRL, the major shareholders of the lube base oil manufacturers had so far increased the price by Rs 51.50 per litre in the last 14 months and this was the sixth announcement of price increase in the lube base oil during the period.
“The lubricating oil manufacturers are constantly being ignored by the lube base oil manufacturer and raising prices without any consultation with the stakeholders on vague pretexts,” alleged Husain, and asked the government to intervene into the matter and get the refinery’s decision reversed.
Husain said that the oil refinery was increasing prices frequently on various pretexts and warned that if the trend continued the lubricant manufacturers would be forced to shut down their businesses.
No comments:
Post a Comment