Karachi, May 9, 2026 – Khurram Ijaz, General Secretary of Businessmen Panel Progressive (BMPP) and former Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly criticized the government over the third consecutive increase in petroleum prices, warning that the move will intensify inflationary pressures and hurt economic activity across Pakistan.
In a statement issued on Saturday, Khurram Ijaz said the latest fuel price hike has become unbearable for the public and business community alike.
“The government has delivered a third consecutive fuel shock to the nation, which will further fuel inflation and increase the suffering of the common man,” he said.
Under the latest government decision announced on Friday night, the price of petrol (motor spirit) was increased by Rs14.92 per litre, taking the new rate to Rs414.78 per litre from Rs399.86. Similarly, the price of high-speed diesel (HSD) was raised by Rs15 per litre to Rs414.58 from Rs399.58.
Khurram Ijaz said that petrol and diesel prices crossing Rs414 per litre is deeply alarming for businesses, transporters, and households already facing financial stress.
“Petrol and diesel prices crossing Rs414 per litre are alarming for businesses, transporters, and households already struggling with rising expenses,” he added.
He noted that the latest increase marks the third consecutive rise in petroleum prices. During the previous two weeks alone, petrol prices had cumulatively increased by Rs33.28 per litre, while diesel prices surged by Rs46.16 per litre.
Khurram Ijaz said repeated fuel price hikes are directly increasing production, transportation, and operational costs, placing additional pressure on industries and commercial activities.
“Frequent hikes in petroleum prices are directly increasing production, transportation, and operational costs, badly affecting industrial and commercial activities across the country,” he stated.
He further said that previous increases in fuel prices had already pushed Pakistan’s inflation above 15 percent on a year-on-year basis for the week ended May 7, 2026, according to data released by the Pakistan Bureau of Statistics (PBS).
“Inflation has already crossed dangerous levels, and additional fuel price hikes will make essential commodities even more expensive for ordinary citizens,” he warned.
Khurram Ijaz cautioned that continued inflationary pressure and rising energy costs could result in reduced business activity and higher unemployment.
“If the government continues imposing such heavy fuel price burdens, the economy may face slower business activity and rising unemployment in the coming months,” he said.
He urged the government to immediately withdraw the latest increase in petroleum prices and adopt people-friendly and business-friendly policies to stabilize the economy and provide relief to citizens.
“The government must immediately withdraw the latest increase in petroleum prices and introduce people-friendly and business-friendly economic measures,” Khurram Ijaz emphasized.