Small traders slam government for hike in POL prices

Small traders on Friday slammed the PPP-led coalition government for increasing prices of petroleum products, saying the move would give rise to inflation and unemployment, besides cramping the economy. Talking to Business Recorder, All Karachi Tajir Ittehad Chairman Muhammad Atiq Mir said the government's decision to increase the prices of petroleum prices would hit the small businesses severely.
"The government's policy of increasing fuel prices continuously has resulted in rising abject poverty in the country," he said, adding the impression about the low-cost fuel had almost diminished with the back to back rise in petroleum prices.
He said the move would also give a big rise to the prices of edible and essential commodities in the country, which as a result would deprive the poor from good food and medicines. "The rising fuel prices are slowly pushing the commodities prices upward," he viewed.
Atiq Mir said the existing units of cottage industry were also inching towards closures due to which unemployment was growing, while the traders had held up their investments to start new businesses. He demanded of the government to cut at least Rs 15 per day in per litre of petrol levy to benefit the national economy, poor and small businessmen with a view to arrest the rising inflation and scale down the growing poverty in the country.
He said the government should seek alternative ways to shorten the rising budget deficit and avoid accumulating revenues by increasing fuel prices. He also blamed the global financial monetary institutions behind costlier energy in Pakistan.
He also criticised the government for not solving the public's problems and arresting the soaring inflation, saying such key issues had never been on the rulers' agenda. Atiq Mir also criticised the government for giving India a most favourite nation's status, saying the move would ultimately stop the industrial moving wheel one day. He said sales in the markets had significantly reduced because of the country's weak economy. "Inflation is all set to increase 20 percent with fresh fuel price hike," he showed dejection.