President of the Hyderabad Chamber of Small Traders & Small Industry, Muhammad Saleem Memon, has termed the increase of approximately Rs. 21 per litre in petrol and diesel prices within three days as another severe blow to trade, industry and the common man. He said repeated increases in petroleum product prices have become an easy way to shift the burden of economic mismanagement onto the business community and ordinary citizens. He said that petrol and diesel are not merely fuels but a fundamental necessity of the entire economic system. Whenever their prices increase, the impact is immediately felt in transportation, industry, agriculture, wholesale and retail trade, and, ultimately, the household budgets of every citizen.
The HCSTSI President said traders and industrialists are already facing serious challenges, including expensive electricity, high interest rates, rising business costs, declining purchasing power, and weak market demand. Under such circumstances, any further increase in fuel prices is tantamount to making it increasingly difficult for small traders and small industries to continue their businesses and sustain their operations.
He said the government cannot continue treating people merely as a source of revenue and income. If petroleum product prices are increased repeatedly, the government must also clarify what practical relief it is providing to the public and the business community to absorb the additional financial burden. He questioned why, when it is the government’s responsibility to protect purchasing power, economic activity, and businesses, the entire burden of fuel price increases is being transferred to consumers.
HCSTSI President Saleem Memon said small traders are most vulnerable because they cannot pass every increase in business costs on to consumers. When public purchasing power is under severe pressure, further price hikes lead to declining sales, shrinking profit margins, and cuts in business expenditures. In some cases, businesses are compelled to reduce their workforce or even shut down completely. Similarly, small industries are increasingly finding it difficult to remain competitive in the market due to continuously rising production, transportation and distribution costs.
He warned that the government must understand there is also a limit to how much revenue it can generate through taxes and levies. He demanded that the government immediately review the recent increase in petroleum product prices and introduce a temporary reduction or appropriate adjustment in the taxes and levies imposed on petroleum products, so the full burden of any extraordinary increase is not transferred directly to consumers.
The President of the Hyderabad Chamber said the business community does not oppose reasonable economic measures; however, it strongly rejects policies that place the full burden of repeated economic adjustments on traders, industrialists, and the common person. The government must take practical measures to demonstrate that providing economic relief to the people is also among its priorities.
