LAHORE
\nThe Ferozepur Road Industrial Association (FRIA) has asked the government to withdraw the decisions of continuous raises in oil products prices, warning the authorities that the decision could spur inflation, hurting the economic growth and only a prudent approach could keep it under the control.
\nFRIA chairman Shahbaz Aslam said that another hike in petrol prices would put an additional burden on the industries and general public at a time when they are already hard-pressed with huge power tariff jump.
\nShahbaz Aslam, also the PIAF senior leader, said that recent increase in the petrol, diesel and other petroleum prices has shattered all segments of society including industrialists and traders.
\nHe said that government did not bother to pass on the benefit of decrease of oil prices in international market and earned billion rupees, which was a sheer injustice and now made a huge raise in the petroleum prices. He said that there is almost no production in the industrial sector due to massive load shedding while increase in petroleum and diesel prices would give a big blow, not only to the industry but also to the agriculture sector that is backbone of the economy.
\nHe said that the industrialists, traders and common men are already annoyed due to load shedding while further increase in petroleum prices would add fuel to the fire. He said that government should cut down its luxurious expenditures and curtail taxes and duties on the petroleum prices.
\nHe said that the FRIA had for the last many months been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deficit was fast widening due to heavy imports under the head of petroleum products.
\nHe said that the timeline for the increase in the prices of petroleum products is also raising questions. He said that at a time when the whole industry is suffering due to energy crisis and high cost of doing business, the raise in POL prices is bound to give a further blow to the industry. The FRIA chief demanded of the Prime Minister to reduce the petroleum prices immediately and also ensure representation of business community in the bodies.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE The Ferozepur Road Industrial Association (FRIA) has asked the government to withdraw the decisions of continuous raises in oil products prices, warning the authorities that the decision could spur inflation, hurting the economic growth and only a prudent approach could keep it under the control. FRIA chairman Shahbaz Aslam said that another hike in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-459068","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n