KARACHI, May 1: Chairman, Advisory Board, Korangi Association of Trade and Industry, Shaikh Manzar Alam, expressing concern over the raise in petroleum product prices, has demanded that the fortnightly review of petroleum prices be done away with.

In a statement, Mr Alam said that only 15 days back, the prices had been increased by Rs1.80 per litre and now again these had been raised by Rs1.55 per litre.

Thus a total increase of Rs3.35 per litre would cause a great loss to the country's economy, he said, adding as it would lead to an increase in the production cost of local products, which would become incompatible in the international market, while Pakistani exporters were already faced with serious challenges from other Asian countries.

Mr Alam said that the recent increase would have direct bearing on common man.-APP