The Rawalpindi Chamber of Commerce and Industry (RCCI) has demanded the government that the benefit of the falling prices of crude oil and palm oil in the world market should be immediately passed on to the common man.
RCCI President Nadeem Rauf, in a statement issued on Sunday, said the Brent Crude was trading at around ninety dollars per barrel.
The price of palm oil has decreased by more than fifty percent in the last two months as the cost of palm oil dropped from two thousand dollars per ton in April, and now it is below one thousand dollars per ton in September, he said.
He added that the purchasing power of the common man had been affected, due to which the business activities were slowing down.
Nadeem said the increase in prices of electricity and petroleum products would make Pakistani products uncompetitive in the international market as the production cost had increased considerably.
He demanded to reduce petrol and diesel prices to ease transportation costs.—APP