PIAF opposes POL price hike

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) on Saturday opposed a recent hike in petroleum, oil and lubricant prices and demanded of the government to withdraw it to save industry and trade.

PIAF Chairman Sohail Lashari, SVC Nadar Kamal Osman, VC Junaid Iqbal Sheikh and Auto Parts Manufacturers & Exporters Association Chairman Tahir Javed Malik said in a statement that industrial production had already been reduced due to power load-shedding while the raise in POL prices would further worsen the situation.

PIAF has long been calling for promotion of alternative energy resources as the trade deficit is fast widening due to heavy imports of petroleum products, they added.

The business leaders urged Prime Minister Syed Yusuf Raza Gilani to withdraw the increase in petroleum prices immediately and also ensure representation of the business community in bodies like OGRA (Oil and Gas Regularity Authority) and NEPRA (National Electric Power Regularity Authority).

Copyright APP (Associated Press of Pakistan), 2011