PTA bemoans petrol price increase
The chairman of the Pakistan Tanners Association (PTA), Khawaja M. Yousuf has expressed concern over the fourth consecutive increase in the price of petrol and petroleum products effective from March 1. Criticising the government decision to increase prices from PRs42.39 ($0.7115) to PRs.43.96 per litre, he claims it will adversely affect industries in general and the leather industry, in particular, as an increase in the prices of such products will increase production costs which will in turn render manufacturers and exporters uncompetitive in the world market, especially in the wake of WTO era.
Petrol prices have increased by PRs.10.18 per litre over the last 14 months while diesel and Kerosene oil prices have gone up by PRs.5.43 and PRs5.06 per litre respectively during the same period.
He also added that the government, rather than increasing prices, should in fact provide relief to exporters who are actively engaged in earning foreign exchange for the country.
