Business community of Hyderabad has rejected the recent increase in prices of petroleum products. Senior Vice President, Hyderabad Chamber of Commerce and Industry (HCCI), Turab Ali Khawaja said this in a statement issued here on Wednesday. He expressed his concern that the government had increased the prices of petroleum products in spite of this fact the rates of POL products had not been increased in International market and they were at bottom level.
The increase would enhance the cost of doing business, which was already on the rise in the country, pushing inflation upwards and severely hitting poverty-stricken people, Khawaja observed. Besides, it would also cast negative effects on exports. He demanded the government to withdraw raise immediately.
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