HYDERABAD: President Hyderabad Chambers of Small Traders & Small Industry (HCSTSI) Daulat Ram Lohana has rejected the price hike in petroleum products and said that the recent increase in oil prices up to Rs25.58 would not prove a good omen for the economy of the country and people.
In his statement issued here on Saturday, Daulat Ram Lohana said that it was against the vision of prime minister to increase the prices of petroleum products at such a great extent which had made the masses yelled out.
He said that the premier Imran Khan was saying one thing and doing another adding that on one hand, he was determined to provide relief to business community and the general public, while on the other hand, he had dropped the bomb of inflation upon the people who were already restricted to their residences in the wake of coronavirus.
Lohana further said that the record price hike in petroleum products could be the outcome of one of the non-elected advisors of PM.
He said with recent record price hike in petroleum products, inflation rate would enhance greatly which would push more people below the poverty line.
"Our economy is already at the verge of collapse, the record increase in oil products would deteriorate it further," he said and added that the petroleum companies will earn billions of rupees from this price hike.
He demanded the Prime Minister Imran Khan of reversing the decision of record price hike in petroleum products in the best interest of country's economy and people.
Copyright Business Recorder, 2020
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