KATI President rejected the rise in petroleum prices

KARACHI – Korangi Association of Trade and Industry (KATI) President Salman Aslam has rejected the rise in prices of petroleum products, which have reached the highest level in the history of Pakistan.He appealed to Prime Minister Imran Khan to reverse the recent rise in prices of petroleum products. Industrialists cannot afford record high production costs and the worst inflation due to an increase in petrol prices.

Salman Aslam further said that the recent increase would not only affect the industrialists but also the people.President KATI said that the crisis caused by the coronavirus has already affected industrial and business activities and the people are already under economic pressure. In such a situation, more steps need to be taken to provide relief. He further said that a comprehensive system should be formed at the government level to control the production cost and inflation of industries.

The government should not try to increase petrol prices to achieve the target of the petroleum development levy. Salman Aslam said that increase in petrol prices would also increase the prices of electricity and food items. He said that the recent increase would not only make the means of transportation more expensive but also increase the prices of industrial transportation which would lead to a new storm of inflation in the country. He said that the government should take decisions keeping in view the capabilities of the people and industrialists and take steps to control the storm of inflation.