KARACHI- Korangi Association of Trade and Industry (KATI) President Saleem-uz-Zaman has rejected the government’s decision to increase the prices of petroleum products. He appealed to Prime Minister Imran Khan to reverse the recent rise in petroleum prices. He said that rising cost of production was a result of rising prices and hence cause not affordable inflation.
President KATI added that the recent increase would not only affect the industrialists but also the people. He said the crisis caused by the corona virus had affected industries and businesses, people were already under economic pressure. In such a situation, maximum steps need to be taken to provide relief. President KATI said that a comprehensive system should be set up at the government level to control the production cost and inflation of industries.
Saleem-uz-Zaman said that the government should include new taxpayers in the tax net instead of increasing petrol prices to achieve the target of Petroleum Development Levy. He said that increase in petrol prices would also increase the prices of electricity and food items. Saleem-uz-Zaman said that transportation prices will get hike, which would lead to a new storm of inflation in the country. He further said that the government should take decisions keeping in view the capabilities of the people and industrialists.
