President of the Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has expressed deep concern and regret over the recent unprecedented increase in petroleum product prices. He stated that the sharp increase of approximately Rs. 55 per litre in petrol and diesel prices has created serious fears of a new wave of inflation across the country, the impact of which will directly affect both the general public and the business community.
He noted that immediately after the price hike was announced, an unusual rush was observed at petrol pumps across Hyderabad. A large number of citizens rushed to filling stations to obtain fuel, resulting in long queues at several locations. While some petrol pumps continued to supply fuel, many were compelled to temporarily suspend sales due to an excessive rush and supply-related issues, causing considerable inconvenience to the public.
Mr. Memon stated that such a substantial increase in petroleum prices will not only raise transportation costs but will also lead to an increase in the prices of essential commodities, daily-use items, and industrial production costs. Consequently, there is a strong likelihood that the overall inflation rate will rise further. He added that the business community is already under immense pressure due to rising electricity tariffs, gas prices, and other operational costs, and this latest increase in petroleum prices may further negatively impact commercial and economic activities.
Referring to the global situation, he said the world is currently facing multiple international economic and geopolitical crises that are also affecting global energy markets. However, he expressed concern that Pakistan has faced similar challenges, particularly during the COVID-19 pandemic, when disruptions to global supply chains and fluctuations in energy prices imposed severe economic strain on the country. Despite that experience, it appears that adequate and comprehensive planning has not been undertaken to effectively deal with such crises in the future, reflecting a clear gap in policy planning and preparedness.
Mr. Memon also appreciated the timely response of the district administration and law enforcement agencies, stating that their prompt presence and effective management helped keep the situation under control and prevented any potential law-and-order issues.
He urged the federal and provincial governments to take immediate and effective steps to ensure the uninterrupted supply of petrol and diesel, so as to avoid panic and uncertainty among the public. He further called upon the relevant authorities to strictly monitor the market to prevent artificial shortages, hoarding, and profiteering of petroleum products. He emphasised that the government should formulate a long-term energy policy and emergency response strategy to better protect the national economy and the public from the adverse impacts of global crises.
In conclusion, Mr Memon appealed to citizens to remain calm, avoid unnecessary hoarding, and purchase fuel only according to their actual needs so that order can be maintained and any artificial shortage of petroleum products can be avoided.
