LAHORE
The Pakistan Industrial and Traders Associations Front (PIAF) on Sunday demanded of the authorities to withdraw the decisions of continuous raises in oil products prices, as the move would hurt the economic growth in the country.
PIAF Chairman Faheemur Rehman Saigol, in a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chaudhary said the federal government has increased the rate of petrol by Re1 to Rs257.13 per litre for the next 15 days.
According to a notification issued by Ministry of Finance, the price of high-speed diesel (HSD) has been increased by Rs7 to Rs267.95 per litre.
Faheem Saigol said that petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of the members of the middle and lower-middle classes, who primarily consume petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.
Nasrullah Mughal said that its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.
Tahir Manzoor Chaudhary said that the consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.
The said the government increased liquefied petroleum gas (LPG) prices by Rs3.68 per kilogramme for both domestic and commercial consumers for the month of February, 2025.
