Business and industrial circles have strongly criticised further increase in the prices of petroleum products and termed the decision of the Oil Companies Advisory Committee (OCAC) as unjust.
Pakistan Industrial & Traders Associations Front (Piaf) in a statement issued here on Friday said that unjust raise in petroleum products would increase the industrial input cost as well as transportation charges.
Chairman Piaf Sheikh Muhammad Arshad claimed that the OCAC has made lame pretexts for increase in the prices of petroleum products. At a number of occasions, despite decrease in the prices of oil in international market, petroleum product prices were increased in the country.
If this trend continues, travel of common man through public transport would also become difficult while transportation cost of domestic products would also increase.
He called upon the government to stop OCAC from repeated increase in oil price and give relief to common man and industry by exempting oil from different taxes.
Meanwhile, Chairman Pakistan Sugar Mills Association and sitting Executive Committee Member of the Lahore Chamber of Commerce & Industry (LCCI) Ch Zaka Ashraf has criticised the raise in oil prices. He demanded of the government to immediately withdraw the increase in the larger interest of the general public.
In a statement, he urged the government to check the oil price fixing mechanism. He said that abnormal raise in oil prices would directly affect the kitchen items. According to him, this hike would also affect the industrial and agriculture output after the increase in production cost.
He said the increase in oil prices, shows that the government has failed to ensure an environment conducive for investment, either domestic or foreign.