ISLAMABAD (March 21 2003) : The Pakistan Vansapati ManufacturersAssociation (PVMA) has turned down oil tankers' owners demand of 10percent increase in fares, saying upward revision in prices could bediscussed with them when they come for a meeting on March 25 in Karachi.

The industrialists made it clear to the oil tankers that first they shouldresume supply of palm oil to the mills which was suspended as a result oftheir countrywide strike against increase in petroleum products last week.

Meanwhile, the PVMA action committee has taken the issue with the Sindhgovernment and demanded its intervention to resume palm oil supply to themills.

Ghee mills have closed down across the country after running out of stocksof palm oil which pushed up ghee/cooking oil prices in the open market.

The PVMA delegation told the Sindh government representative on Thursdaythat suspension of palm oil supply could create acute shortage of ghee andcooking oil in the country.

The government representatives assured the industrialists that they wouldensure supply of palm oil to all their ghee mills by Friday to avoid anycrisis-like situation in the country.

Another PVMA delegation has cut short its visit to Malaysia and reachedKarachi to take stock of the situation arising out of oil tanker owners'strike.

A 12-member ghee millers' delegation, including PVMA Chairman SheikhIkram, Action Committee Chairman Haji Akhtar and Vice Chairman Haji AbdulRazak had left for Malaysia on March 15 to attend annual outlook on palmoil.

Meanwhile, the PVMA has convened an emergent meeting of its executivemembers on March 24, to discuss the situation arising out of oil tankersassociation strike.

Other issues, which could figure at the meeting include disparity in taxesbetween Pata/Fata areas and rest of the country and proposals for the nextannual budget.

In the light of the outcome of meeting on March 24, the millers would meetwith the representatives of oil tanker owners the next day.

Ghee industrialists are perplexed over the government response to the oiltanker owners strike.

They want that the government should have taken a hard stance and getimplemented Pakistan Oil Tanker Owners Association president's promise ofcalling off the strike.

Pakistan Oil Tanker Owners Association President Yousuf Shahwani hadannounced to call off strike on Tuesday night after several hours longmeeting but the decision was yet to be implemented.

The impact of the strike is becoming imminent and giving rise toghee/cooking oil prices.

Meanwhile, Thursday's prices registered an increase of 50 paisa per kgover Wednesday's rates.