BY: Abdul Rahim Khan Ghouri
Karachi (Commerce Reporter): In an effort to reduce the cost of petrol, Iranian petrol is being imported in large quantities through land routes to Karachi, according to Sharif Memon, Chairman of the Boltan Market Tajir Ittehad.
Memon has been protesting against the recent increase in petroleum product and LPG prices and has demanded an immediate rollback of the increase in prices by 10 Pakistani rupees for petrol and LPG.
Memon stated that the economy of Pakistan has been ruined by the rulers, and the increase in petrol prices has resulted in a rapid increase in the prices of all goods, which is a major cause of inflation and has broken the backs of the common people and traders.
The people are already suffering due to the government’s wrong and flawed economic policies. The sudden increase in petrol prices is an excess on traders and the public. Instead of increasing prices, there should be a reduction in petroleum product prices.
The rise in petrol prices has led to an increase in the prices of all goods and transportation rates, affecting the general public and traders, and worsening business conditions. Industries have already shut down, and the country’s exports have been severely affected.
Shopkeepers are unable to pay their rent, and business transactions are moving towards default. In these dire circumstances, the government must formulate a consistent policy to stabilize the economy.