Islamabad
The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has strongly condemned the government’s decision to introduce a daily petroleum pricing mechanism, describing it as an anti-industry, anti-business and anti-public measure that will further fuel inflation, undermine business confidence and increase uncertainty across the economy.
Reacting to the government’s decision to revise petroleum prices on a daily basis in line with international market fluctuations, BMP Chairman and former FPCCI President Mian Anjum Nisar said the move demonstrates the government’s extraordinary efficiency only when it comes to transferring the burden of rising international prices directly onto consumers and businesses. He regretted that when global oil prices had declined significantly over the past several months, the government failed to provide meaningful relief to the people. Instead, it continued to impose additional levies, climate support charges and various taxes, depriving consumers and industry of the full benefit of lower international prices. He observed that the government repeatedly justified retaining high petroleum prices by introducing new levies and duties in different forms, claiming fiscal constraints and IMF commitments.
