KARACHI: The acting president of the Korangi Association of Trade and Industry (KATI), Nighat Awan, has expressed her concern over the increase in petroleum prices and urged the government to revisit the methodology of pricing it fortnightly.
She said that since the masses had already been suffering from a tremendous economic hardship due to the financial crunch, higher prices of petroleum products would increase the financial hardship of the people.
She said that the methodology of fortnightly petroleum pricing was leading to price hike of essential commodities.
She said that due to the slowdown in the economic and industrial activities due to the pandemic, providing relief to the common people should be the prime focus of policymaking.
She said that in order to curb production costs of industries and inflation, an effective estimation mechanism of demand and supply should be established.
She urged the government to revisit the price hike in petroleum products and fortnightly pricing methodology in the larger public interest.
Copyright Business Recorder, 2021
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