KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain said the government is planning to increase the oil prices which will further burden the masses which are already facing record inflation.
He said that oil prices are decreasing in the international market but there is no relief in sight for the people in Pakistan. He said that oil price in the global market has been falling for three consecutive weeks due to lack of demand and expectations of increased supply.
The government is not transferring the benefit of reduced oil prices in the international market to the masses who are braving the destructive impact of inflation on their buying power.
He said that recently, the price of petrol was increased by Rs 8 on the rise of Rs 3 in value of dollar and now petroleum products are being made more expensive on the pretext of depreciation of rupee which is unacceptable.
The rupee itself has not weakened but has been weakened under a scheme by the policy makers and now they are justifying another hike which is unacceptable as it will make the lives of masses more difficult.
Copyright Business Recorder, 2021