Hike in petroleum prices raises concerns of industry and common people: KATI

President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan, Senior Vice President Muhamad Ikram Rajput and Vice President Syed Wajid Hussain has expressed concern over raise in Petroleum Prices. In a statement released by KATI President Sheikh Umer Rehan said that rise in Petroliam prices would directly affect the cost of production and price hike for common people.

He said that due to higher prices of diesel transportation of raw material and finished goods would also become costlier and it will increase the cost of doing production for industry. He said that due to shortage of gas and higher prices of energy industries were already facing great deal of trouble and many units had been out of production.

Sheikh Umer Rehan mentioned that the recent rise in petrol prices would also impact the daily life of common men drastically. He said that industry in the country was already lagging behind due to the higher cost of production and its one of the biggest hurdle in the way of progress in exports sector. He said that conditions were already unbearable for the industry and any rise in the energy prices would prove a disaster. He urged PM Khan to take immediate notice of rise in energy prices and unavailability gas for industry.

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