Former Convenor of Founders Group and sitting member of Executive Committee in the Lahore Chamber of Commerce & Industry (LCCI) Chaudhry Zaka Ashraf, in a statement issued here on Friday, has urged the Prime Minister of Pakistan to direct the Oil Advisory Committee (OAC) to bring down the oil prices immediately so that the benefit, created by an Opec's decision to increase the output by two million barrels per day, could be passed on to the masses.
Zaka further said the industry as well as agriculture sector needed relief in oil prices, as everyday increase in oil prices had increased the cost of production to sky-high.
Besides, he said the common man's life had also become miserable due to raise in prices of daily use items, which was a direct result of abnormal rise in oil prices after every fortnight by the OAC.
He was of the view that the OAC should immediately pass on benefit of cut in oil prices in the international market to the agriculture, industry and common man instead of waiting for a fortnight period.
Nevertheless, passing of immediate relief could provide a sigh of relief to the consumers. Prime Minister should intervene and ask the Ministry of Petroleum to ensure the passing of instant relief to the commoners, industrialists and agriculturists.