This was announced by Malik and Pakistan Petroleum Dealers Association Chairman Abdul Sami Khan at a joint news conference in Karachi.

“A committee has been formed to resolve the problems of petroleum dealers and the negotiations will resume on Monday,” the state minister was quoted as saying by the state broadcaster.

He said that whatever decision would be taken would be in the interest of the people and the petrol dealers. “We want the dealers related to petroleum to increase in this work and open more petrol pumps.”

PPDA Chairman Khan said that an agreement has been signed with them under which the government would decide within 48 hours and the problem would be resolved. “We are grateful to Minister of State Mosadik Malik who listened carefully to our demands and assured us of a solution.”

The dealers had announced a strike for an indefinite period starting July 22. They were demanding that their profit margin should be more than doubled to five per cent from the current level of 2.4%.

The consumer price index had increased to 38% while electricity and other utility rates had also spiked due to the Kibor rate, PPDA Chairman Abdul Sami Khan said in a press release on Thursday.

He added the dealer’s commission on petrol had completely evaporated. “Petroleum dealers that are the backbone of the country with a network of 12,000 have been completely ignored by the government.”

In the past, the dealers had also approached the petroleum minister who promised to visit them in Karachi.

Smuggled Iranian petrol and diesel being sold freely was another problem for the dealers as it dropped their sales by at least 30%.