Withdrawal of POL price hike urged

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to immediately withdraw fresh increase in prices of petroleum products, a statement said on Friday.

FPCCI President Ghazanfar Bilour expressed concerns over the recent hike in the prices of petroleum products and liquefied petroleum gas (LPG), and said that this will increase the cost of production and Pakistani products will suffer in competitiveness.

Consequently, there will be a further negative impact on the already declining exports of the country, he said. Bilour said that a huge population is living below the poverty line.