FPCCI demands cut in petroleum products prices

LAHORE, Mar 11 (APP):FPCCI Regional Food Committee Convener Shahid Imran Wednesday urged the government to immediately slash petroleum prices after arrival of the oil vessels in Pakistan, to provide much-needed impetus to the national economy.
In a meeting with traders delegation here, he said that recent easing in the flow of oil supplies, with several vessels carrying petroleum products now harboured at Karachi port, justifies to pass on relief to business community and people.
He remarked that lowering oil prices would significantly reduce the cost of production and transportation, which would ultimately help control inflation and stimulate economic activity across various sectors.
He noted that the country had already gone through a long ordeal and difficult phase due to stringent conditions, and the economy is now gradually stabilising. He added that timely reduction in fuel prices would restore confidence among investors, traders, and industrialists, enabling them to expand their operations and contribute to economic growth. Relief in energy costs would benefit agriculture, industry, and services sectors alike, leading to improved productivity and employment opportunities. He urged the government to act swiftly in the larger national interest.