Pakistan Industrial & Traders Associations Front (Piaf) has said that the Prime Minister has saved national economy from an unbearable burden by not increasing the prices of petroleum products despite unprecedented surge in international market.
Piaf Chairman Muhammad Ali Mian said in a statement that the oil producing countries had increased oil prices and if government passed on this increase to consumers, national economy would not be able to bear this raise. Apart from this, after increase in industrial input cost, there is always negative impact on the exports.
He said that this step of the Prime Minister had proved that sufficient foreign reserves could be used as 'shock absorbers' in difficult times. He hoped that Prime Minister would take more decisions to strengthen the industry.
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