‘Rise in POL products prices, gas tariffs will negatively impact SMEs’

KARACHI: The leadership of the United Business Group (UBG) has warned that increase in petroleum products prices and gas tariffs will negatively impact small and medium enterprises (SMEs), reduce the competitiveness of local industries, and burden the general public, especially in a time when economic recovery is already under pressure from multiple fronts.

They expressed deep concern over the recent increase in fuel prices, with petrol rising by Rs. 8.36 per litre and diesel by Rs. 10.30 per liter.

The UBG leaders including Zubair Tufail, Khalid Tawab, Hanif Gohar, and Syed Mazher Ali Nasir said that the sharp hike in fuel prices will further strain Pakistan’s already fragile economy by increasing the cost of doing business, pushing transportation and logistics expenses upward, and driving inflation across essential sectors including food, manufacturing, and services.

President UBG Zubair Tufail urged the government to reconsider the pricing mechanism and explore alternative solutions — such as reducing indirect taxes or rationalizing import costs — to avoid passing the full burden onto the business community and consumers.

They emphasized the importance of policy stability and cost containment in order to support trade, investment, and industrial productivity during this challenging economic period.

Copyright Business Recorder, 2025