Muhammad Kamran Arbi, President of SITE Association of Industry, has declared the recent increase in POL prices tragic for the industry and economy as a whole and appealed to Prime Minister Mian Muhammad Shehbaz Sharif to take necessary measures to curtail the increase in POL products every fortnight. Otherwise, it will become more difficult to run factories due to the constantly rising cost of production.

Kamran Arbi added that for the past three months, the POL prices have been revised frequently, adding to the already high cost of living. It will put an extra financial burden on the masses, who are already hard-pressed due to inflation. It will also directly impact the cost of doing business and increase the cost of production. He said that an increase in utility prices again & again is already impeding industrial activities to a great extent, and coupled with the current increase in POL prices, it is bound to stop the wheels of industry. This will ultimately result in a decline in exports and mass unemployment.

The SAI president stressed the need to formulate policies in consultation with stakeholders and avoid taking any step that would negatively impact the industries, trade, and national economy as a whole.