Korangi Association of Trade and Industry (KATI) President Salman Aslam has welcomed Prime Minister Imran Khan’s rejection of OGRA’s summary of the increase in prices of petroleum products. He said that there were reports that OGRA had proposed an increase of up to PKR 10 per liter which was rejected by the Prime Minister in the national interest. The industrialist and business community are grateful for the Prime Minister’s decision. He said that the prices of petroleum products were already skyrocketing and a further increase in them would lead to a new storm of inflation.
Salman Aslam further said that the prices of petroleum products in the global markets are declining but OGRA is proposing continuous increase which is a cause for concern. He said it was feared that the current proposed increase in future pricing shall be included which will increase the burden on the people.
President KATI appealed to the government to reduce the prices of petroleum products because of rising inflation to reduce the cost of production and transportation. In particular, inflation has been curbed and necessary household items have become available to the low-income group. He hoped that the government would further reduce the prices of petroleum products.