Home / Chambers of Commerce / Islamabad traders rejects downward revision in petro prices Frequent price revisions termed cruel joke with masses Govt repressive policies bleeding people, economy white

Islamabad traders rejects downward revision in petro prices Frequent price revisions termed cruel joke with masses Govt repressive policies bleeding people, economy white

Islamabad: Business community of Islamabad on Wednesday rejected downward revision in the prices of petroleum products terming it a cruel joke.

We will intensify protests against the price hike and will go to any extent to get our basic rights, leaders of the business community said.

Repressive policies and unjust taxation is bleeding economy and masses white while rulers remained totally indifferent, said Malik Sohail Hussain, VP National Traders Alliance and Chairman Media FPCCI.

Speaking to a protest rally in Blue Area, he said that harsh policies and unilateral decisions are systematically destroying economy while business community continue to reel in a crippling environment.

The business leader said that infamous decision have left business community dysfunctional and dejected while decelerated pace of progress.

Malik Sohail said that incompetent government has taken a huge electoral risk triggering unrest while the friendly opposition continue to cheat masses on every issue. They will have to face the consequences of misleading masses in the upcoming elections.

He said that opposition and government apologists have failed to convince the masses that the recent upward revision was imperative.

Petrol was Rs 63 per litre when the incumbent government took charge, now it has crossed the historic mark of Rs 100 per litre, said Malik Sohail who is also former SVP, ICCI.

Other who spoke on the occasion included Malik Sagheer Ahmed Chairman Blue Area Business Comunity, Syed Amin Pirzada, Liaquat Noon, Haji Naeem, Syed Nadeem Mansoor, Shakeel Aziz,Yousaf Rajpoot, Raja Hasan Akthar, Hameed Abbasi and Ishtaq Qureshi.

They rejected the government claims about vitality in the international market saying petroleum prices have witnessed upward trend by 25 per cent in spot market while prices at home have been revised upward by 60 per cent.

Oil companies have earned a profit of Rs 152 billion in 2012 but the petroleum ministry would still employ different tactics to maximise profits of oil mafia, they alleged.

The speakers also rejected recent move of increasing wellhead gas prices on the pretext of luring investment in this sector which is deception. Government is plundering country, resources, masses and economy which has brought business community to the breaking point, they said.

They said that hiking petroleum prices has put national security in danger and asked Chief Justice to come forward to safeguard rights of masses.

Masses are being milked through indirect taxation to cater for the luxuries of rural elite which will not be tolerated anymore; he said adding that the business community will do everything to safeguard their interests come what may.

Government should seriously consider proposals of Tariq Sayeed and Iftikhar Malik to bail out economy from the mess and purchase electricity from China and Iran and forge improve ties with India, said Malik Sohail.

For more information, contact:
Malik Sohail Hussain
Chairman FPCCI Standing
Committee on Media and PR
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Tel: +9251 2251 891-3
Fax: +9251 2251 894
Cell: +92333 5155300; +92321 5155500
Email: malick.sohail@yahoo.com

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