Govt urged to withdraw recent hike in POL prices

RECORDER REPORT

FAISALABAD: Industrialists, textile exporters, traders, political and civil society members have expressed grave concern over the petroleum prices and urged the government to withdraw recent hike in oil prices that is bound to jack up cost of doing business in Pakistan.

Commenting over the fresh increase in petroleum prices, Chaudhry Salamat Ali, ex-chairman Pakistan Hosiery Manufacturers and Exporters Association (North Zone) said that when textile industry and citizen are facing severe energy crisis and prevailing situation is yielding negative impact over the national economy, it is imperative that government should withdraw the increase of petroleum prices.

He demanded that the government should cut the number of taxes on petroleum products in the best interest of the country. Repeated increases in the POL prices had ruined the industrial sector and economic activities, he added.

Sheikh Shehzad Younus, Vice President, Youth Wing Pakistan Tehrik-e-Insaf said that peoples are facing severe problems due to non-stop price hike, present rulers are not feeling dangerous condition of the public. Government policies are yielding unemployment in the country, resultantly, crime rate in country growing day by day.

A large number of industrial units had already shifted their operations to other countries and the recent decision would force more industrialists to stop industrial investment in the country.