KARACHI: Korangi Association of Trade and Industry (KATI) on Monday rejected hike in petroleum prices and urged politicians to reduce their expenses.
KATI President Faraz-ur-Rehman in a statement rejected the recent increase in the prices of petroleum products and said that the Ministry of Finance ignored the Oil and Gas Regulatory Authority (OGRA) and self-produced petroleum.
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The price of the product has been increased by 35 rupees per liter which is unacceptable. What was the compulsion that the sudden increase in the prices of petroleum products on a holiday before the scheduled period is beyond comprehension?
He said that the politicians should reduce their expenses, just as the caretaker cabinet of Punjab refused to take allowances given the worsening economic conditions of the country, which is highly appreciated.
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KATI head said that other provinces should also follow in their footsteps and give up the allowances to reduce expenses. Faraz-ur-Rehman said that due to the expected increase in energy prices, the working class is being financially burdened by the storm of inflation, increase in public transport fares, rising electricity and gas bills and increase in consumption of commodities has made their life worse.
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He said that if the energy prices continue to rise in such a situation, the consequences will be serious not only for the low and middle-income class but also for the business class. He said that the rising price will also increase the cost of transportation of goods, increasing costs of cargo ships and record cost increases by freight companies which the industry cannot afford.
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Faraz-ur-Rehman said that the rulers are burying the people alive instead of reducing their expenses, inflation, poverty, and unemployment are talking to the sky, and the sharp increase in the prices of food and drink has made the life of the poor people miserable. In these circumstances, instead of providing facilities to the people, the ruling government has increased the petrol prices by 35 per liter on IMF’s will, which is completely unfair.
