The president, Faisalabad Chamber of Commerce and Industry (FCCI), Mian Muhammad Hanif, has expressed grave concern and dismay over constant increase of petroleum prices, and warned that if the trend for exorbitant increase in the petrol and diesel prices is continued, it would adversely affect the trade and industry of the country.
In a press statement, he said the growing increase in the petroleum prices would not only hamper the country's exports but also bleak the chances to attain the set target of exports. He said: "In order to compete in the world market under the WTO, we needed low cost of production and the inputs required for the achievement of this objective has the petrol and oil on the top list."
Mian Hanif said, at present, the petroleum prices are on the derease in the world market, but in Pakistan the prices of petrol and diesel are increased every fortnight arbitrarily by the Oil and Gas Regulatory Authority (Ogra) which has resulted in abnormal increase of consumer goods prices and the transport fares, thus inflicting serious blow to common man.
The FCCI chief appealed to Prime Minister Shaukat Aziz and the federal petroleum minister to direct Ogra not to raise the prices of petroleum every fortnight but review these prices after every three months. He demanded that a representative of the private sector, especially from the trade and industry be inducted as member of Ogra.
Mian Mohammad Hanif also urged the government to tap alternative sources to overcome the shortage of oil and gas by augmenting the oil and fuel production so as to improve the industrial production of the country.