KARACHI: President of the Korangi Association of Trade and Industry (KATI) Salman Aslam has said that there has been a trend of continuous decline in oil prices in the global market, and the government should immediately announce a reduction in the price of petrol so that inflation and production costs can be reduced.

He expressed concern over the government’s delay in changing the prices of petroleum products.

Salman Aslam welcomed the Saudi government’s decision of a one-year extension of $3 billion to stabilize Pakistan’s foreign exchange reserves.

He said that Saudi Arabia is Pakistan’s best friend and has helped Pakistan in difficult times in the past. With this decision, Pakistan’s foreign exchange reserves and economic stability in the country will be possible.

He hoped that the government will solve the problems faced by the industrialists so that the production process in the country can be accelerated and the economy can travel towards development.

Copyright Business Recorder, 2022