Trade, industry reject hike in petroleum prices

Tuesday, September 18, 2012 - Karachi—The trade and industry has strongly condemned the second time increase in POL and CNG prices in just one month which amounts to paralyze the economy and squeeze the masses already pressed by the abnormal hike in general prices.

The Patron In-Chief Korangi Association of Trade and Industry (KATI) S M Muneer, Chairman Ehtesham Uddin, President All Karachi Industrial Alliance, Mian Zahid Hussain, Vice Chairmen Hasham A Razzak and Tariq Malik said in s statement that the government on pretext of increase in POL prices in international market is rapidly skyrocketing prices in local market. he increase in POL prices is nothing to do with the price fluctuation in international market as the real factor behind all this practice is to make money and squeeze the masses to overcome budgetary losses.

They said that the rulers are punishing the masses and business community to conceal its policy failure. They warned that such practice by the rulers is real dangerous and against the national interest as trade and industry as well as general masses are going to bankrupt. They asked the government not to take revenge of failure of its policies from the public and not to undermine the democratic set up as public is extremely upset due to unabated and cruelly increased prices of utilities.

They demanded of the government to immediately reverse the decision of massive increase in POL and CNG prices. They also demanded of the government to do away with weekly review of prices as the ministry and OGRA are only review POL prices upward.