The President of the Korangi Association of Trade and Industry (KATI), Faraz-ur-Rehman, has voiced deep concern over the unprecedented surge in petroleum product 0prices, marking an all-time high in the nation’s history. In a resolute stand, KATI categorically rejected this alarming increase and called upon the government to swiftly address the matter.

President 0Faraz-ur-Rehman’s statement comes against the backdrop of growing apprehension within the populace regarding the deteriorating economic situation, which has left citizens feeling helpless. He asserted that the government’s inability to curb inflation has exposed the people to the harsh conditions imposed by the International Monetary Fund (IMF), as well as the unscrupulous practices of hoarders and profiteers.

Addressing the pressing concerns, President Faraz-ur-Rehman remarked that the populace is grappling with a trifecta of challenges, including record inflation, surging electricity costs, and soaring exchange rates. He reiterated his longstanding call for measures to lower electricity tariffs, emphasizing that while both the public and the business community have been vocal in their protests, tangible actions to combat inflation remain elusive.

Expressing his grave concerns, President KATI warned that unless immediate steps are taken to lower petroleum prices, the ongoing inflationary spiral could push some individuals to contemplate desperate measures, such as suicide. He lamented the lack of decisive actions in reducing electricity costs, a topic that has featured prominently in his previous statements.

Faraz-ur-Rehman reaffirmed KATI’s commitment to stand with its members during challenging times. Despite the formidable circumstances, KATI continues to advocate for its members by conveying their grievances to higher authorities. Furthermore, he condemned divisive tactics employed by a few vested interests within the business community, which have sought to create divisions for personal gain. President KATI urged Caretaker Prime Minister Anwar ul Haq Kakar and Caretaker Finance Minister Shamshad Akhtar to take emergency measures to provide immediate relief to the populace, cautioning that the nation’s economy is teetering on the brink of destruction.

The situation remains tense as citizens await government action in the face of mounting economic challenges.