LAHORE: Public at large, traders, political and religious parties, along with representatives of the Lahore Chamber of Commerce and Industry (LCCI) have unanimously rejected the substantial increase of around Rs20 per litre each in petrol and diesel prices.

They vehemently criticised the federal government for exacerbating the hardships faced by the common man by raising petrol and diesel prices without taking sufficient measures to control the surging inflation.

Motorists and citizens alike are feeling the strain of the soaring prices of commodities, vegetables, fruits, meat and other essentials, which have already put immense financial stress on the public. Many are disappointed by the silence of various institutions, including the judiciary, which previously took suo motu notices on matters unrelated to the common people but appear to be indifferent to these pressing issues.

One motorist said he was shocked at the sudden and substantial increase in petrol and diesel prices, describing it as no less than a bombshell. He urged the government to negotiate with the IMF to review the conditions set in the wake of the $3 billion standby agreement with Pakistan’s government. Failure to address these concerns may lead to mass protests in the near future.

The All Pakistan Anjuman Tajiran also criticised the government’s decision to raise POL (petroleum, oil and lubricants) prices and has threatened to stage protests nationwide unless the notification is withdrawn.

The group raised concerns over the allocation of funds for various development schemes allegedly coming from the increase in petrol and diesel prices.

PPP: Punjab PPP acting President Rana Farooq Saeed expressed concerns about the political repercussions of the oil price hike in the upcoming elections.

He said the finance minister should have consulted with allied parties before implementing such increases. Fearing that the price hike would exacerbate inflation, he said that the party would have to bear the political burden of these decisions.

He said difficult choices like these could impact the election results, and steps should be taken to alleviate the financial strain on the masses.

JI: The Jamaat-i-Islami rejected the oil price hike, citing its potential to increase the cost of essential commodities.

Punjab emir Javed Kasuri recalled that the ruling alliance, PDM, had marched against inflation when it was in the opposition. However, after assuming power, the government started periodically raising rates of electricity, gas and petroleum products.

He expressed regret that the government had burdened the masses with the price increase instead of cutting unnecessary non-development expenses.

PFMA: Pakistan Flour Mills Association’s Punjab chapter chairman Iftikhar Mattoo expressed concern over the recent increases in oil and power tariffs, stating that it would raise the cost of doing business.

He warned that the measures would further burden the masses, as the rise in petrol and power tariffs would affect various aspects of daily life and also lead to higher prices of wheat and its products.

He urged the government to promote renewable energy sources, encourage the use of solar energy in industries, and offer businesses loans on favorable terms to combat inflation.

LCCI: The LCCI raised concerns about the recent oil price hike, highlighting its impact on the cost of doing business.

LCCI President Kashif Anwar, Senior Vice President Zafar Mahmood and Vice President Adnan Khalid issued a joint statement emphasising the adverse effects of the price hike on different sectors of the economy.

They urged the government to prioritise the promotion of alternative energy sectors, particularly by providing incentives for the solar sector.

Published in Dawn, Aug 2nd, 2023