LAHORE: The senior vice chairman of the Oil Marketing Association of Pakistan (OMAP) met with the Prime Minister to address critical challenges facing oil marketing companies. Key issues highlighted included foreign exchange losses on imports and the rampant smuggling of petroleum products.
In an interview with Business Recorder, Tariq emphasized the major concerns discussed, such as the need for sales tax exemptions on petroleum products, relaxation of business restrictions, reduction of high operational costs, and the burden of unsustainable turnover taxes and increased petroleum levies.
OMAP urged the Prime Minister to reassess existing policies and provide support for the sustainable growth of the oil marketing sector, which has seen significant foreign direct investment, including a notable deal with Saudi Aramco.
Story by Hassan Abbas
