Karachi, April 3, 2026 – Khurram Ijaz, General Secretary of Businessmen Panel Progressive (BMPP) and former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly criticized the recent sharp increase in petroleum prices, warning that the decision will trigger a severe wave of inflation across the country and deepen economic hardship for both households and businesses.
The government, in a late-night announcement on Thursday, raised petrol prices by Rs137.24 per liter to Rs458.41, while high-speed diesel was increased by Rs184.49 per liter to Rs520.35. The move has sparked widespread criticism from the business community and consumers alike.
“Such an increase is not acceptable at any cost. It is a disaster for people and industry,” Ijaz said, expressing serious concern over the economic implications of the decision. He noted that the latest hike comes on top of an earlier increase of Rs55 per liter in both petrol and diesel in early March 2026, further straining an already burdened economy.
Highlighting the broader economic situation, Ijaz pointed out that inflationary pressures in Pakistan have been steadily rising. According to the Pakistan Bureau of Statistics (PBS), headline inflation climbed to 7.3% year-on-year (YoY) in March 2026, compared to 0.7% in March 2025, indicating a significant upward trend in prices.
Ijaz warned that the latest fuel price surge would have a cascading effect across all sectors of the economy. “From electricity tariffs to basic kitchen items, everything will become more expensive. Transportation costs will rise, and so will the prices of raw materials,” he said, adding that businesses will face increasing operational challenges.
While acknowledging the government’s announcement of subsidies for motorcyclists and select segments, Ijaz argued that such measures would provide limited relief. “The masses will ultimately bear the brunt when essential goods become more expensive due to higher fuel costs,” he added.
He urged the government to immediately withdraw the increase in petroleum prices and called for a reduction in taxes and levies on fuel products. “In the current global environment, particularly with ongoing geopolitical tensions, the government must act decisively to protect citizens and stabilize the economy,” he concluded.