Fuel price hike to have impact on economy: SITE Chief

KARACHI, Apr 03 (APP): The SITE Association of Industry president Abdul Rehman Fudda has expressed concerns over petroleum price hike and said it would affect country’s economic progress.

In a statement, SITE chief demanded of the government to reduce levies and taxes and provide relief to common men and industries so that economic activities be accelerated.

The steep increase in petroleum price would badly damage industries, particularly export-oriented production, at a time when exports are already declining, he warned.

Fudda stated that the common man, especially labourers and the salaried persons, would be the most affected class.