Goods transporters reject increase in POL product prices

Goods transporters reject increase in POL product prices

Goods transporters in Karachi have expressed strong opposition to the recent hike in petroleum product prices, announcing a corresponding 10 percent increase in transportation fares.

This decision comes in response to the government’s adjustment of petroleum prices for April 2019, which transporters argue will make the continuation of their business increasingly untenable.

In a statement released on Monday, representatives of the goods transport industry firmly rejected the price increase of petroleum, oil, and lubricants (POL) products. The transporters highlighted the significant impact this decision would have on their operations, noting that the higher fuel costs would necessitate an immediate adjustment in transportation fares to maintain business viability.

“The government’s decision to raise petroleum prices will directly affect our operating costs,” the transporters stated. “As a result, we have no choice but to increase fares by at least 10 percent to cover the additional expenses. This price hike not only affects us but will also have a ripple effect on the broader economy, leading to increased costs for goods and services across the board.”

The transporters have demanded that the government rescind the increase in petroleum product prices immediately. They warned that failure to do so could lead to a halt in the transportation of goods, disrupting supply chains and affecting both businesses and consumers nationwide. “If the government does not withdraw this price hike, we will be forced to stop transporting goods,” they said, emphasizing the urgency of their demand.

The transporters also called for a meeting of all relevant stakeholders to discuss and develop a strategy for moving forward. “We invite all stakeholders to join us in evolving a future strategy that addresses this issue and ensures the sustainability of the transport sector. Collaborative efforts are essential to finding a solution that balances economic realities with the needs of our industry.”

This announcement has sparked concern among businesses that rely on goods transport services, as a significant fare increase could lead to higher prices for a wide range of products. Additionally, any disruption in the transport sector could have far-reaching consequences for the economy, especially in a city like Karachi, which is a major hub for trade and commerce.

The transporters’ rejection of the petroleum price increase and their call for stakeholder collaboration underscores the critical nature of fuel costs to the transportation industry. As the situation develops, all eyes will be on the government and the transport sector to see how this issue will be resolved to avoid potential disruptions in the supply chain.