Karachi: The Korangi Association of Trade and Industry (KATI) has strongly rejected the recent surge in petroleum product prices announced by the government. KATI President Junaid Naqi expressed grave concern over the increase of Rs 5.36 per liter in petrol and Rs 11.37 per liter in high-speed diesel, pushing prices to Rs 272.15 and Rs 284.35 per liter respectively.
Terming the hike as unjustified and destructive, Naqi warned that the exponential rise in production costs will devastate the industrial sector. “The soaring fuel prices have dramatically increased transportation costs, making it increasingly difficult for industries to sustain operations,” he said.
He emphasized that unless production costs are brought under control, Pakistani products will lose competitiveness in international markets. “This is precisely why regional players like India and Bangladesh are outpacing Pakistan,” he added.
Naqi criticized the government for failing to prioritize industrial facilitation. “Traders and manufacturers are being burdened with excessive electricity, gas, fuel costs, and additional taxes. This is sheer injustice,” he said, urging the authorities to take meaningful steps to support the business community.
Highlighting the pressing challenges, the KATI president stated, “Without resolving the issues faced by industrialists, it is impossible to boost exports. Rising transportation expenses have broken the back of manufacturers. To enhance global competitiveness, production costs must be immediately reduced.”
Naqi appealed to the government to reverse the recent petroleum price hikes, warning that failure to do so would force industries to shut down, trigger a fresh wave of inflation, and lead to a dangerous rise in unemployment. “Expensive fuel directly affects the common man more than anyone else,” he asserted.
He noted that transporters immediately increase freight charges following fuel price hikes, which not only raise industrial freight costs but also lead to higher fares in public transport, adding to the woes of ordinary citizens.
“The situation is already dire with record-high inflation, poverty, and unemployment. The cost of essential commodities has skyrocketed, making life unbearable for the lower-income population,” Naqi said. “The government must take proactive measures to avoid the predictable fallout of further fuel price increases.”
He further stressed the need to lower the cost of logistics, especially in light of skyrocketing freight rates and shipping costs. “The industry simply cannot absorb such increases any longer,” he warned.
Naqi urged the government to consult key stakeholders, reduce tax rates on export-oriented sectors, and address the concerns of industrialists and exporters through practical and immediate measures. “Only then can we meaningfully enhance Pakistan’s exports, boost national income, and reduce the country’s reliance on external debt.”
