Pakistan Tanners Association (PTA) Chairman S.M. Naseem, in a press statement, expressed deep concern over drastic increase in the prices of petrol and diesel at Rs 51.00 and Rs 3.50 per liter respectively and also enhanced the rate of electricity by 9 percent effective from March 1, 2008 announced by the caretaker government, says a PTA press release.
He criticised the highly harmful decision for increasing the POL prices and electricity tariff heavily for the domestic users as well as industrial and commercial consumers. The increased prices of petroleum products and increase in electricity rate will not only affect the industrial productivity, but also put adverse impact on country's over all economy. The exporters will be worst affected, as it will be very hard for them to compete with the world market because of increase in cost of production.
Besides, these counter-productive steps badly hit the poor people, including factory workers, who are already facing the price hike of the commodities of daily use as well as transport fares. The WTO regime demands quality products to have competitive edge in global market for which Pak exporters need due encouragement and facilities. The PTA chief stressed the need for withdrawing such dreaded increased in petroleum and power prices in the best interest of the masses and the business community particularly in the present era of competitiveness.-PR