POL products: MCCI opposes weekly price adjustment mechanism

MULTAN: Opposing the weekly price adjustment mechanism of POL products, President of Multan Chamber of Commerce & Industry (MCCI), turned down the claim of Adviser to the Prime Minister on Petroleum and Natural Resources Dr Asim Hussain that “it in the best interest of consumers”.

President, Muhammad Khan Saddozai, said that this mechanism was in the interest/benefit of the hoarders who were minting money by creating artificial shortage of feul. He reiterated his demand to shift POL mechanism to monthly or quarterly basis.

Saddozai said the masses were greatly troubled due to frequent oil price changes. The government is fleecing the poor masses through increase in POL prices.

In the last three weeks, POL prices observed a downward trend in the international market while in Pakistan the benefits were not passed on to the general public, he added.

MCCI President said once the POL prices rose, the prices of everything is also rise, including the transport fares, but they never came down when the prices decreased. He called Ogra, a monster, saying it never considers consumer’s interests. He suggested giving the control of Ogra to the Ministry of Petroleum and Natural Resources, adding it would be best to abolish it.