Industry terms petrol price hike unjust

Trade and industry leaders said that the Rs13.55 per litre increase in petrol price will hit all segments of society and multiply the financial woes of the general public. They said they were expecting a Rs5-9 per litre hike but it was unfair on the part of the government to blatantly raise the price. Karachi Chamber of Commerce and Industry (KCCI) President Ifti­khar Ahmed Sheikh said the increase in diesel price would also push the cost of doing business and have a fallout on industrial production. When the rupee-dollar parity has attained some stability nowadays, this hike in petroleum prices was not making any sense which, if necessary, should have been raised by a minimum of Rs5 per litre to pass on the minimum impact on the poor masses who were excessively overburdened in the ongoing era of high inflation, he said.