The Pakistan Industrial and Traders Association Front (PIAF) has demanded of the government to restrain from increasing petroleum prices from June 1 in the larger interest of national economy and reject the Oil and Gas Regulatory Authority's summary in this regard.
PIAF Chairman Irfan Iqbal Sheikh and other office-bearers in their joint statement on Wednesday said the country's economy is already facing a number of challenges, therefore, the government should provide relief to the public in general and industry in particular by slashing taxes and duties on petroleum products.
They said the fuel is an important and basic ingredient of the industrial raw materials and increase in its price pushes the production cost up. Besides, the hike in petroleum prices also affects the agriculture sector, they said.
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