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Lasbela Chamber demands Rs20 per litre cut in petroleum products price

Karachi, January 13, 2016 (PPI-OT): The Lasbela Chamber of Commerce and Industry (LCCI) has demanded reduction in petroleum products (POL) prices by Rs20 per litre, considering the lowest oil prices prevailing in the international market, a statement said on Wednesday.

Lasbela Chamber President, Maqsood Ismail and former President, Yakoob Karim said that international oil prices are constantly falling for the last few years and the price of POL products per barrel went down below $31, but the Pakistan government remained reluctant to provide price relief to the consumers with the same ratio.

It was a sheer injustice with the people of the country that they were not given any price differential in any utility, he said, adding that as per the government’s own price mechanism, there should be immediate reduction in prices of not only POL products but electricity, transport fares, including trains and airlines, but the authorities are reluctant to bring them down.

They said the present government, following the practice of the previous regimes, is not practicing the price mechanism and to the woes of people of Pakistan, PML-N government is depriving their fundamental rights for not providing the price cushion.

The government as per its claim of being the business and investment-friendly should reduce the POL prices honestly, as the people of Pakistan deserved it. “The masses, in general, and trade and industry, in particular, need some sigh of relief at this juncture when everyone remained under the heavy burden of unaffordable prices of utilities and imposition of various additional taxes and levies,” Ismail said.

He lamented the increase in general sales tax (GST) on fuel, which he declared unjustified. He warned industries were closing down in the country due to unbearable cost of production and the energy crisis. He said that actual price cut should be the Rs40 per litre as per the rate of $31 per barrel in the international market.

For more information, contact:
Muhammad Farhan
Public Relations Officer
Lasbela Chamber of Commerce and Industry (LCCI)
Ground Floor,
Lieda Office Building,
Hub Distt., Lasbela
Tel: +92-85-3303410, +92-85-3304461
Fax: +92-85-3302431
Cell: +92-85-300-2023448
Email: farhanprolcci@yahoo.com, info@lasbelachamber.com
Website: www.lasbelachamber.com

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