National Refinery raises lube base oil price once again
Karachi: Attock Oil Refinery has once again increased the prices of lube base oil by Rs2 per litre which would result in sharp increase in all the lubricating oils. All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain, while condemning this arbitrary act of refinery said that this second increase by Attock and NRL management in just a period of less than one month while fifth increase in four months’ time. He warned that this increase could result in the price spiral of every brand of lubricating oil by another Rs3 per litre.
While demanding to impose a price control mechanism on lube base oil manufacturers, Mian Zahid informed that Attock Refinery, the major shareholder of lube base oil manufacturers National Refinery has so far increased the price by Rs39 per litre in the last 12 months and this is fifth announcement of price increase in 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 Zahid while asking government to intervene into the matter and get the refinery’s decision reversed. He said that no government functionary is taking notice of the arbitrary increases in the lube oil prices to the woes of lubricants manufacturers and the motor vehicles owners who have been forced to buy expensive motor oils.
Zahid said that oil refinery is increasing prices frequently on various pretexts and warned that if the trend continued the lubricant manufacturers would be forced to shut down their business, as on one side the refinery is increasing the price of lube base oil while on the other hand smuggled and spurious oil is flourishing in the market.
He further pointed out that the lube oil prices have reached to the highest level in last two years and the automobile and engineering have left to suffer heavily while lubricant industry’s future in Pakistan has been threatened by lube base oil manufacturers.
For more information, Contact:
All Pakistan Lubricants Manufacturers Association (APLMA)
PRO to Mian Zahid Hussain