The All Pakistan Petroleum Dealers Association (APPDA) on Monday withdrew its strike call for March 4 (tomorrow) after successful negotiation with the federal government on the deregulation policy. Following their negotiation with Petroleum Minister Dr Musadik Malik, a spokesperson for the APPDA announced: “Petroleum dealers have taken back their strike call for tomorrow.” Sources privy to the matter said that both sides agreed that the dealers’ association would be taken on board over the deregulation process of the petroleum sector. Talking to journalists, APPDA central spokesperson Noman Ali Butt announced: “Our negotiations with the government have been successful.” He said that the petroleum minister assured them that deregulation process won’t affect profit margin of the dealers. Butt said that the minister also assured them of curbing smuggling of oil from Iran. Last month, the petroleum minister stated that the government was planning to implement a deregulation policy, enabling oil marketing companies (OMCs) to compete by setting their fuel prices. Reacting to his plan, the APPDA threatened a nationwide strike in protest against the government’s plan to deregulate oil prices. The proposed plan sparked fears of foreign dominance over the local oil market among the petroleum dealers. The APPDA gave the government until March 4 to address their concerns, arguing they were excluded from discussions on deregulation. The Oil and Gas Regulatory Authority (Ogra) chairman, however, had downplayed the strike threat, calling it a misunderstanding. “Dealers fear oil companies may reduce their profit margins under deregulation,” he had said.