All time high raise in petroleum, CNG prices causes concern

FAISALABAD: Textile exporters and manufacturers, traders, industrialists, transporters and political parties have expressed grave concern over the all time hike in petroleum and compressed natural gas (CNG) prices and said the increase in fuel prices would affect the prices of other commodities, causing further inflation in the country.

Commenting over the hike in petroleum and CNG prices, Chaudhry Salamat Ali, Ex-chairman and Chief Coordinator, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) North Zone urged the government to take back the recent increases in petroleum and CNG prices.

He said the government always made decisions without taking the business community into confidence.

He mentioned that hike in the prices of petroleum products besides affecting the common man would also make it difficult for the business community to adjust the prices of goods.

Chaudhry Salamat Ali demanded of the government to reduce the petroleum products prices and withdraw its decision of weekly price adjustment, which was creating so many problems for textile exporters to settle their exports contacts/dealing. Transporters have warned that transport fares would be increased.