Increase in petroleum prices opposed by PTA

Khurshid Alam, Chairman, Pakistan Tanners Association (Central) has strongly criticised the decision of the government for increasing oil prices up to 13 percent to control the budget deficit, which is not justified and it will ultimately damage the cause of invigorating industrialisation and boosting exports.
He said that after the increase, price of Petrol stands at Rs 83.56 per litre jumps by 9.1 percent, HSD at Rs 92.89 per litre by 7.9 percent and LDO at Rs 78.98 per litre by 13 percent it will bring a new wave of price hike in the country. He further said that the decision to increase petroleum prices against the interest of the general public and the leather industry, in particular it will certainly detrimental to the highly value added leather industry, which is the backbone of the exporting industry.-PR