Pakistan Industrial and Traders Associations Front (Piaf) has termed the cut in the prices of petroleum products as an eyewash. The Piaf office bearers including Chairman Irfan Qaiser Sheikh and Vice Chairman Iqbal Baig Chugtai said in a joint statement that recent cut of about 2.5 percent in the prices of petroleum products does not match the huge profit being pocketed by the government so there is a dire need to bring the prices further down.
The economy of the country at the moment was passing through the most critical times of its history and wants some relief and if the prices of petroleum products are brought down to desired levels it would not only be a great service to the country but would also help curtail cost of doing business, they said.
They said the government would have to look into the issues to put economy back on rails as both the businesses and the businessmen are in deep trouble because of multiple internal and external challenges including international financial crisis, high mark-up rates in the country and acute shortage of electricity. The government would have to bring down its non-development expenditures to ensure relief to the masses who have attached high hopes to the present government, they added.