KARACHI, March 17: The recent increase in the prices of petroleum products by oil companies has been criticized by the political parties and other representative bodies.

They said it would push up the cost of living and make the economy uncompetitive.

PPP’s information secretary Taj Haider said the hike would severly hit the poor, and would result in an increase in the cost of production.

He said that as oil companies have been allowed to decide the cost of POL every now and then, it was tantamount to taking away the right of the National Assembly to take decisions on financial matters.

He was of the view that the matter be taken up by the National Assembly to check this unsettling practice.

The Muttahida Qaumi Movement urged the government to ensure that virtues of the fall in petroleum prices were also transferred to the common man.

MQM spokesman MNA Kunwar Khalid Yunus said any price-hike would adversely hit the poor masses, and hoped the government was not ignorant of such adverse effects. He called for reviewing the decision for the benefit of the people.

The Muttahida Majlis-i-Amal termed the hike anti-people and said people had already been feeling the pinch of frequent price-hike and cost of living.

MMA MNA Mohammad Hussain Mehnati and deputy parliamentary leader of the alliance in the Sindh Assembly, Nasrullah Shaji, said the decision would overburden the common man as it would push the prices upward.

The Korangi Association of Trade and Industry also condemned the unprecedented hike in petroleum and its related products by the Oil Companies Advisory committee because it would have far-reaching adverse affects on economy.