KARACHI: Korangi Association of Trade and Industry (KATI) president Salman Aslam has expressed concern that the prices of petroleum products in the global markets are declining but OGRA is proposing continuous increase.

Welcoming Prime Minister Imran Khan’s rejection of OGRA summary to increase the prices of petroleum products, KATI president said there were reports that OGRA had proposed an increase of up to Rs 10 per litre which was rejected by the prime minister in the national interest. He said the industrialist and business community are grateful for the prime minister’s decision.

He said the prices of petroleum products were already skyrocketing and a further increase in them would lead to a new storm of inflation.

KATI president appealed to the government to reduce the prices of petroleum products because of rising inflation to reduce the cost of production and transportation. In particular, inflation has been curbed and necessary household items have become available to the low-income group.

Copyright Business Recorder, 2022