Karachi, The President of the Korangi Association of Trade and Industry (Kati), Johar Kandahari, has voiced strong opposition to the government's recent decision to increase petrol prices by 9 rupees 66 paise, while deeming the reduction in diesel prices insufficient.

According to Korangi Association of Trade and Industry, Kandahari highlighted the severe implications of the ongoing rise in diesel and petrol prices on the economy and the general populace. He stressed that these price hikes are exacerbating economic hardships, pushing more people below the poverty line, and failing to alleviate the cost pressures faced by the transportation sector and industries. Despite a slight decrease in diesel prices, transporters are unlikely to lower fares, thus negating any potential relief for industries and the public.

Kandahari pointed out the direct effects of petrol price increases on the working class and poor, including higher transport fares, escalating electricity and gas bills, and a general surge in the cost of living. He called for significant reductions in diesel prices to counter the inflationary spiral and ease the financial strain on all economic sectors.

The continuous escalation of energy and fuel costs, as noted by Kandahari, poses serious risks to the country’s economic fabric, affecting everyone from low and middle-income families to the business community. He warned of the broader consequences, such as rising transportation and shipping costs, industrial shutdowns, declining job opportunities, and an exodus of investments.

Kandahari urged the government to establish a comprehensive strategy to manage industrial production costs and curb inflation, emphasizing the need for immediate action to mitigate the economic and social impact of the current crisis.