ISLAMABAD: The leadership of the Islamabad Chamber of Commerce and Industry has expressed strong concern over the Rs. 55 per litre increase in petroleum prices, terming the decision highly detrimental to trade and industry and warning that it may trigger a fresh wave of inflation across the country. President Sardar Tahir Mehmood said that such a sharp increase in petroleum prices would directly raise production costs, transportation charges, and overall operational expenses for businesses, making it increasingly difficult for industries and traders to sustain their activities. He added that Pakistan’s economy is already facing multiple economic challenges and pressures, and the latest hike in fuel prices would further aggravate the situation. He stated that placing the entire burden of rising international oil prices on the public and the business community is unjustified and unfair. He urged the government to provide relief by reducing petroleum levy and other taxes instead of passing the full impact of global price fluctuations onto consumers. DNA
