Fixation of POL prices: Govt should take all chambers, stakeholders into confidence

MULTAN: Government should have to take all the chambers and stake holders into confidence on the issue of fixation of POL prices because existing system has shattered our economy and added to the miseries of the common man.

Acting President of Multan Chamber of Commerce & Industry (MCCI) Khawaja Muhammad Hussain said that the Ministry of Finance has approved an increase in petrol price by Rs. 1.73 per litre which is unjust, because prices of petroleum products are falling in Asian market. He said that government should stop the weekly revision in POL prices and prices must be revised on monthly basis because existing system was creating troubles for the consumers and helping the profiteers as well as hoarders to fleece the public.

It should not be imposed on the price. He further said that nominal price-cuts have been announced in other petroleum products like Kerosene oil, and High Speed Diesel under the weekly revision in POL prices.

The prices of compressed natural gas (CNG) also raised after the increase in petrol rate to keep it equal to 60 percent of petrol price. He said that following the price revisions, petrol from Monday will cost Rs. 108.45 (available at Rs. 110) per litre compared to Rs. 106.72 earlier, HOBC Rs131.9 (Rs.133) per litre compared to Rs. 137.96, kerosene oil Rs. 101.63 (Rs. 103)per litre compared to Rs. 104.68, HSD Rs. 113.30 per litre compared to Rs. 113.77 and LDO Rs. 97.17 per litre compared to Rs. 99.27.