The business community has criticised the government for making 'bulk' increase in petroleum prices in one-go and termed it a very bad news for the country's economy which is already facing a number of challenges.
Pakistan Industrial and Traders Associations Front Chairman Sohail Lashari, Vice Chairmen Nadar Kamal Osman, Junaid Iqbal Sheikh, Chairman Lahore Township Industrial Association, Haroon Shafiq Chaudhry and Chairman Pakistan Auto Parts Manufacturers and Exporters Association, Tahir Javed Malik while strongly reacting the increase termed it anti-industry and anti-masses decision.
They said the government did not bother to pass on the benefit of decrease of oil prices in international market and earned billion rupees, which was a sheer injustice and now made a huge raise in the prices. The office bearers of different trade and industries bodies reminded that for the last many months, they had been calling on the concerned government circles to take measures for utilising alternate fuel resources as trade deficit is fast widening due to heavy imports under the head of petroleum products.
They said that the timeline for increase in the prices of petroleum products is also raising questions. At a time when the whole industry is suffering due to energy crisis and high cost of doing business, the raise is bound to give another blow to the industry. They demanded government to remove carbon tax right now otherwise industry would collapse within no time.