KARACHI: Sharp increase in petrol and electricity prices has taken the traders by storm amid the historic inflation, calling it “cruel” to ravage them and the poor alike.
Reacting to the government’s new move for triggering fuel oil and power rates, President of the All Pakistan Organization of Small Traders and Cottage Industries, Karachi, Mahmood Hamid dubbed it “death warrant” for the economy.
He said that the government increased prices of petrol by Rs 10 and diesel by Rs 18.6 per liter, despite a considerable drop in global market.
Addressing a meeting at the Small Traders Secretariat, he criticised the government’s insensitivity and anti-public stance, bedsides condemning the fuel oil and power prices hike.
Mahmood Hamid pointed out that electricity prices have risen by Rs 22 a unit over the last 15 days, with a similarly sharp increase in gas prices.
He emphasised that these exorbitant costs are crippling the already dwindling industry and commerce, making it impossible for traders to sustain their businesses.
He shared several tragic stories illustrating the dire impact on the public such as a rickshaw driver in Manghopir, Hizbullah, who committed suicide after being unable to feed his two hungry daughters due to unemployment.
He noted that over 100 factories have closed, leaving thousands of workers jobless. Flour mills and textile mills are shutting down, while the government remains preoccupied with meeting the IMF demands.
He declared that the traders will not accept the increases in petrol, diesel, electricity, and gas prices, nor the Rs 1000 fixed charges on K-Electric bills.
He warned that the government’s actions are driving the country towards chaos, a situation the business community will not tolerate.
He announced that if these “draconian” taxes and price hikes are not reversed, the traders will launch a nationwide protest movement. He added that the traders will spell out a future action at a convention this month.
Copyright Business Recorder, 2024
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