LAHORE – Business community has totally rejected the unjust increase in petroleum product prices and demanded of the government to bring down the rates immediately as the bulk raise is bound to shatter all segments of society including industry and trade.
While strongly reacting on this anti-industry and anti-masses decision, they said that government did not bother to pass on the benefit of decrease of oil prices in international market and earned billion of rupees, which was a sheer injustice and now made a huge raise in the petroleum prices.
There is almost no production in industrial estates due to massive loadshedding while increase in petroleum and diesel prices would give a big blow to the industry, observed Pakistan Hardware Merchants Association central chairman Sardar Usman Ghani. Talking to The Nation, he said that the industrialists, traders and common men are already annoyed due to dozens hour loadshedding while increase in petroleum prices would add fuel to the fire.
He said that government should cut down its luxurous expenditures and curtail taxes and duties on petroleum.
He demanded of the Prime Minister Syed Yousuf Raza Gilani to withdraw recent increase in petroleum prices immediately and also ensure representation of business community in the bodies like OGRA and NEPRA.
Lahore Chamber of Commerce and Industry also urged the government to immediately withdraw increase in the prices of petroleum products as it would not only give a big blow to the industry that is already struggling for survival due to horrible energy crisis but would also cause irreparable damage to the government’s image in the eyes of the masses.
LCCI President Irfan Qaiser Sheikh said that the recent increase in the prices of petroleum products would hit both the Industrial and Agriculture sectors hard besides jacking up the rate of inflation in the country.
He said that the entire industrial sector was already facing multiple internal and external challenges while the recent increase would further aggravate the economic situation.
He said Pakistan’s agriculture sector is engine of growth. The increase in Diesel prices would increase the input cost of agriculture production as high speed diesel is being used in the tractors, tub-wells, harvesters, thrashers and other agriculture machinery. He said that the cost of thermal generation by private sector would also go up. He said that not only the transportation cost of goods would multiply but fares of public transport would also increase manifold.
He said that government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new highs.
Chairman Lahore Township Industries Association Iftikhar Bashir Chaudhry said that business community had for the last many months been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deficit was fast widening due to heavy imports under the head of petroleum products but government has not taken a single step to this regard.
He was of the view that the timeline for the increase in the prices of petroleum products was also raising questions because at a time when the whole industry was suffering due to energy crisis and high cost of doing business, the raise in POL prices is bound to give a further blow to the industry.
PIAF Chairman Sohail Lashari demanded of the government to withdraw the increase in petroleum prices immediately instead of playing role of silent spectator on the issue.
He said that Chambers of Commerce & Industry and other trade bodies are giving call of disobedience and government should avoid swelling their anger.