KARACHI: Small traders on Friday warned the PML-N led federal government of a countrywide protest if increase in prices of petroleum products was not reversed.

Showing anger over the hike in petrol prices by Rs60 per litre within days, President All Pakistan Organization of Small Traders and Cottage Industry, Mehmood Hamid called it an “atrocious” move of the government.

Within seven days, he said, the government increased petrol price twice by Rs30 each time to Rs210 a litre.

The PML-N led government also made electricity costlier by Rs7.90 a unit.

POL products’ prices hiked again

“The government has dropped the atom bomb of inflation on the public,” he said that the increase in petrol, diesel and electricity prices will ravage trade and industry.

He rejected the IMF’s “dictated” economic policy of the federal government that triggered a storm of inflation in the country.

The growing inflation is also feared to unleash a “flood” of unemployment and may result in starving the poor.

The PML-N had claimed that it would bring down petrol prices to Rs60 a litre, when comes into power, surged it to all-time high of Rs210, instead, he said.

“If the government did not withdraw hike in petroleum products prices, traders will go on countrywide protest,” Mehmood Hamid said.

Copyright Business Recorder, 2022