Multan Chamber of Commerce and Industry (MCCI) president Malik Asrar Ahmed Awan has expressed his grave concern over the continuous rise in the prices of petroleum products.
In a statement issued here on Monday, Awan said that hike in petroleum prices would hit cost of industrial production, rendering exportable items non-competitive in the international market, which would result in loss to the precious foreign exchange, apart from leaving negative effects on our agriculture.
He further said, "when the prices of petroleum products are on decline in the international market, no relief is given but on the other hand, when prices of petroleum products are on increase, the same are increased." As a result of increase in prices of petroleum products, he said, "many weak industrial units may be affected seriously resulting in price hike in the local market."
He appealed to the authorities concerned to review the decision and withdraw the increase made in petroleum prices.