Karachi, May 17, 2024 – Following the recent significant reduction in petroleum prices, the Korangi Association of Trade and Industry (KATI) has called for a corresponding decrease in transportation costs to benefit both businesses and the general public.
President Johar Qandhari stressed the importance of ensuring that the decrease in petrol and diesel prices directly benefits ordinary citizens. He highlighted the discrepancy between how transporters swiftly adjust fares in response to petrol price hikes but fail to do so when prices drop, leading to persistently high transportation costs.
Qandhari noted that the failure to reduce transportation fares has contributed to elevated costs for goods transportation, impacting both industries and consumers who continue to grapple with high public transport fares.
In light of these concerns, President KATI urged the government and relevant authorities to enforce fare reductions for both freight and public transportation. He argued that lowering transportation costs is essential for curbing inflation and enabling the public to reap the benefits of the government’s decision to slash petroleum prices.
Highlighting the broader economic challenges of inflation, poverty, and unemployment, Qandhari underscored the severe impact of rising food prices on vulnerable segments of society. He emphasized the need for transparent communication and effective implementation to ensure that the benefits of reduced petroleum prices are passed on to the public.
Moreover, Qandhari emphasized that the reduction in petroleum prices should lead to immediate cuts in the cost of goods transportation. He pointed out that industries are currently grappling with exorbitant costs associated with cargo shipping and freight services, which he described as unsustainable in the long run.
Reiterating his demand for the transport sector to align fares with reduced petroleum prices, Qandhari emphasized the importance of ensuring that economic relief reaches all segments of society. By reducing transportation costs, businesses can operate more efficiently, while consumers can enjoy lower prices for goods and services, ultimately contributing to economic stability and growth.
As stakeholders await action from relevant authorities, the KATI’s advocacy underscores the importance of addressing transportation costs as part of broader efforts to mitigate the economic impact of fluctuating fuel prices and promote inclusive growth in Pakistan.