KARACHI: Muhammad Farooq Afzal Founder President Pakistan Turkey Business Forum, Syed Turab Shah Chairman AZB Global Trade & Exhibitions/ Former Deputy Convener of FPCCI Central Standing Committee on Corporate Relations & Communication, and Mahmood Ahmed Khan MD Sun Builder & Developer have expressed their serious concern and anxiety over the exorbitant increase in petroleum prices. They commented that the recent hike in petroleum prices would cause a great damage to economy and the life of common and poor masses who are already confronted with many challenges.
They said the record rise in prices of petrol and diesel has triggered a fresh record of inflation sending the prices of food, transport and other essential items to new heights putting more pressure on the middle and lower class. The impact in prices hike will be witnessed in the coming month particularly in the month of Ramzan.
The price hike would also significantly affect the agriculture sector because of inflated transportation cost. The prices of agricultural products food, fruits, vegetables, wheat & flour, fresh milk products will go beyond the affordability of common and poor people, Farooq Afzal added. Further, he said that the petroleum price hike would increase poverty, inflation and unemployment in the country and also vehemently affect our export.
Syed Turab Shah said that increase in petrol prices is yet another tyrant on the masses as last week the electricity tariff was increased by Rs 3 per unit. Government has increased POL prices 12 times in 9 months raising the prices to Rs 52 in these months.
Mahmood Ahmed Khan said that increase in prices of petroleum products by the government more than Rs 12 per liter is unacceptable and unbearable.
Further he said recent increase in Petroleum products prices will hurt low income people who are struggling to meet their monthly expenses in view of sharp increase in Electricity, Gas and Petrol/ Diesel prices. Govt. Must reduce the recent increase by 75% otherwise price of all products and services transport will go up further.
