LAHORE, Oct 17: The businessmen have strongly criticized the oil marketing companies (OMCs) for having increased prices of petroleum and its products by 2.5-5.32 per cent once again.

In a statement issued here on Thursday, Lahore Chamber of Commerce & Industry (LCCI) president Yawar Irfan Khan said all members of the Oil Companies Advisory Committee (OCAC) were either government officials or representatives of the multinational companies who had little sympathy for the plight of consumers. “Nor are they concerned with the impact of increased petroleum prices on the country’s business and industry. They are bleeding businessmen and industry as well as common people by raising the prices every fortnight,” he stated.

He demanded that representatives of business community and ordinary consumers be also inducted on the OCAC so that uncalled for increase in the petroleum prices could be stalled.

He said the OCAC always raised prices whenever the crude rates go up in the international market but the benefit of reduced prices was never transferred to the consumers. He warned that the raised petroleum prices would leave an adverse impact on the country’s exports, slowing down the economy.