KARACHI - In protest against the fresh hike in petroleum products, the transporters of Karachi have decided to go on strike on April 10. The Karachi Transport Ittehad (KTI), an alliance of organisations operating public transport in the city, announced the decision despite government assurances to reduce the new oil rates.

Sources said the govt did not allow transporters to hike fares which prompted them to announce the wheel-jam. OGRA on Sunday raised petrol prices by up to 8.2 percent, contrary to its advice to leave prices unchanged. The price of petrol crossed the psychological barrier of Rs100 to Rs105.68 (1.16 dollars) or by 8.2 percent. The price of diesel and high-octane gasoline was increased by 4.5 percent and 7.0 percent respectively.

Price of compressed natural gas, an alternate transport fuel, was increased from 77.12 rupees to 88.70 rupees.

However, after strong reaction from different circles of people, the government on Monday decided to decrease POL and CNG prices. A summary in this connection has been sent to Finance Ministry.

Petroleum Minister Dr Asim Hussain announced it after holding meeting with President Asif Zardari in Karachi.

A summary seeking slash in petroleum levy has been sent to the Finance Ministry which is authority to notify decline in POL prices, he informed the media.