KARACHI, Oct 3: Political parties and business organizations on Monday staged demonstrations against the continuous increase in POL prices and demanded immediate disbandment of the Oil Companies Advisory Committee.

Some of them also supported the strike call given by the transporters for Tuesday.

Speaking at a protest demonstration at Karachi Press Club, the chief of the Labour Party of Pakistan, Mr Nisar Shah, advocate, urged the political parties to come forward against the increase in POL prices and said that LPP would soon hold an ‘all-party conference’ to protest against the regular increase in oil prices.

Other LPP leaders Sheikh Saeed, Nasir Manzoor, Haji Bashir Ahmed and Sohail Raza also condemned the recent oil price hike and said the government under its so-called new liberalism and globalization agenda has handed the national economy to imperialist forces.

They said it was the first time in the history of Pakistan that there have been 20 instances of the increase in the prices in just two years.

They demanded that the OCAC be replaced with another body, comprising representatives of the people.

They said that the common man had been left with no option but to commit suicide.

Gulzar Feroz of the Korangi Association of Trade and Industry (KATI) on Tuesday feared that rapid and regular enhancement in prices of petroleum products would have an adverse affect on the industry, in general, and export- oriented industry, in particular, as products would become expensive and would not be able to compete in the international market.

He said it was an irony that while the oil prices in the international market were coming down, the government, rather than transferring the benefit to consumers, was increasing the oil prices.

He said such steps would also affect government’s efforts to create an investment-friendly environment.

He said POL prices were being increased at a time, when country was rebuilding its image and foreign investment was pouring in.