KARACHI (January 30, 2023) The United Business Group (UBG) has rejected the recent increase in the price of petroleum products, describing it as a nightmare for the business class and the people of the country in the current situation. UBG President Zubair Tufail, Chairman Sindh Region Khalid Tawab, Secretary General Sindh Region Hanif Gohar, Central Spokesperson Gulzar Feroze, Former Senior Vice President Mazhar Ali Nasir, Ikhtiar Baig, Former Vice President Tariq Halim said that the increase in the prices of petroleum products will increase the business cost.
He said that the inflation has already broken the back of the people and after the recent increase in the price of petrol, the poor and middle class people of the country are in mental agony due to the new wave of inflation. The UBG leaders said that instead of kneeling before the IMF, our rulers should plan to stand on their own feet and bring policies that will help Pakistan get rid of debt. He has said that the increase in the prices of petroleum products will increase the cost of doing business, already the industries are barely continuing the production process, unemployment has reached a high level, the salaried class is suffering from the worst problems. LPG prices are out of control of the government and profiteering mafia has become active across the country, inflation rate is expected to increase by 25-30%, prices of other food items including onion, wheat, flour, pulses, cooking oil have gone up. and the economic crisis in Pakistan has gone beyond the control of the government. He said that a national policy should be formulated for a sustainable economy and its continuity, all political parties should sit at one table for the wider benefit of the country by ending the political confrontation, and the nation should be taken into confidence on the talks with the IMF. And the government should bear this increase by reducing its non-productive expenditure instead of burdening the common people.
