Karachi: Acting-President of Korangi Association of Trade & Industry (KATI) Nighat Awan has expressed concern over the increase in petroleum prices and urged to revisit the methodology of the pricing fortnightly.
In a statement released by KATI, she said that as the common people of the country already having a tremendous economic hardship due to financial crunch created due to the pandemic and skyrocketing prices of essential commodities, in the pretext higher prices of petroleum products would burden the financial hardship of people. She mentioned that the methodology of fortnightly petroleum pricing was souring the price hike of essential commodities and fluctuating them twice in a month, it should be revisited. She was of the view that due to the slow down of economic and industrial activities in the time of the corona pandemic, providing relief to common people should be the prime focus of policymaking. She also suggested that to curb the production cost of industries and price inflation an effective estimation mechanism of demand and supply should be established. She urged the government to revisit the price hike in petroleum products and fortnightly pricing methodology in the larger public interest.
