PCA flays hike in POL prices

Pakistan Computer Association (PCA) has strongly reacted to major increase in petroleum products prices, terming it an unwise move that would further increase cost of doing business and affect exports.
While commenting on the recent hike in petroleum products' prices, Munawar Iqbal, Central President of PCA, said that economy was still struggling for recovery and government should have focused on reducing cost of doing business to facilitate economic growth, attract investment and reduce unemployment.
He said that it was highly unfortunate that instead of creating conducive business environment, government has made unprecedented increase in petroleum products' prices, which would badly hurt the purchasing power of common man. He said that the latest increase has multiplied the problem of overall economy as production cost has gone up, inflation is on the rise and people are finding it extremely difficult to make both ends meet.
He said that repeated increase in the prices of petroleum products in recent past has badly eroded Pakistan's competitiveness ands as a result country is losing attraction for investment. This situation would further destabilise the economy. He said that the recent price hike would severally damage every sector of the economy. The central President of the PCA urged the government to immediately withdraw the increase in petroleum products' prices and try to facilitate industry to overcome present crises.