Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said record hike in petroleum prices is damaging masses and the economy therefore the decision should be reversed without any delay.
Exchange rate erosion coupled with the increased price of petroleum products has made life difficult for the masses who see no relief in sight.
Mian Zahid Hussain said that the government has also planned to escalate the power tariff which is unacceptable.
Talking to the business community, the veteran business leader said that the value of the dollar is increasing while the price of petroleum products is at a historic high which has made it impossible for the masses to make both ends meet.
The decision to let the dollar gain value, increased price of staple and petroleum price increase has put an additional burden of billions of rupees on the masses reeling under unprecedented inflation.
