Govt Demanded To Review Hike In POL Prices

LAHORE, (UrduPoint / Pakistan Point News - 17th Jul, 2021 ) :The business community Saturday demanded the government to revisit its recent decision of hike in POL (petroleum, oil and lubricants) prices.

The businessmen and exporters delegation from Sialkot led by Dr Nouman Idris Butt made this demand in a meeting with Iftikhar Ali Malik, the President of South Asian Association for Regional Cooperation-Chamber of Commerce and Industry (SAARC-CCI) here.

On this occasion, Iftikhar Ali Malik observed that increase in oil prices would depress supply of other goods as well as increase the cost of production.

Manufacturers would have no other option but to increase price of their respective goods and services, he added.

Malik urged the government to control POL prices which hit almost all sectors of economy as well as affect exports.

He suggested the government to freeze prices of petroleum products, gas and power tariffs for industriesespecially export-oriented industries to boost the industrial production.