Concern shown over rise in oil, power prices

KARACHI: Parton-in-Chief KATI SM Muneer has expressed his serious concern over the increase in the prices of petroleum products and electricity. He termed the increase in petroleum and electricity prices as an anti-trade, anti-industry and anti-people decision. He said that the government had dropped petrol and electricity bombs already on industry and poor nation, hence petrol had gone up by Rs4.12 and electricity by Rs5.89 per unit for the consumers using more the 200 unit.

He said that export orders are booked seasonally, normally six months in advance. The industry has to bear the brunt of such unforeseen costs as their impact could not be transferred to buyers because of sudden hike in gas, power and petroleum tariffs.

SM Muneer said that the gas, electricity and petroleum prices rise would add to the misery of the people already overburdened by escalating price hike. He stated that more shocking is the fact that increases in petrol prices is made without prior notice.

President, All Karachi Industrial Alliance, Mian Zahid Hussain, has said that entire industrial sector was already facing multiple internal and external challenges and the recent increase would further aggravate the economic situation. Newly elected President KATI had urged the government to review its decision in the large interests of the country in general and for the sake of industry and economy in particular.

He said that not only the transportation cost of goods would multiply but fares of public transport would also increase and cause great problem to poor commuters.

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