POL products: People, business community reject increase in prices

HYDERABAD: The citizens of Hyderabad strongly rejected the recent increase in prices of petroleum products. They were of the view that the increase in prices of petroleum products would further increase the miseries of the people who are already struggling financially in lockdown situation during the Covid-19 pandemic.

They demanded the Prime Minister Imran Khan for reversing the decision of record price hike in petroleum products in the best interest of country's economy and people.

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 good omen for the economy of the country and people.

Incumbent govt was determined to provide relief to business community and the general public, while on the other hand, it had dropped the bomb of inflation upon the people who were already restricted to their residences in the wake of coronavirus.

The Vice President Hyderabad Chamber of Commerce and Industry Shakir Memon while expressing his concerns on increase in petroleum products said that due to record price hike in petroleum products, inflation rate would be increased 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.

Copyright Business Recorder, 2020