KARACHI: Abdul Rashid, President, Site Association of Industry (SAI), while expressing deep concern over the increase in prices of petroleum products has demanded Prime Minister Shehbaz Sharif, Finance Minister Miftah Ismail and Minister of State for Petroleum Division Senator Musadik Masood Malik to withdraw hike in POL prices and another alternative solution must be found to cover the country’s deficit.

In an appeal, SAI President said that the government always cares about IMF but not about the people of the country. As a result of the increase in POL prices, people are facing high inflation.

Abdul Rasheed said that the price of petrol was increased by Rs84 per litre and diesel by Rs129 per litre in 18 days. This has had a huge impact on production activity as due to the hike in petrol, diesel prices, the production costs have risen significantly, which will adversely affect the country’s exports.

Production activities were already severely affected due to shortage of electricity, gas and excessive tariffs, and now every 15 days the huge prices of petroleum products will ruin industrial activity.

Copyright Business Recorder, 2022