Karachi: United Business Group (UBG) rejected recent increase in price of petroleum products, describing it as nightmare for business class and people of country in current situation.

UBG President Zubair Tufail, Chairman Sindh Region Khalid Tawab, Secretary General Sindh Region Hanif Gohar, Central Spokesperson Gulzar Feroze, former senior Vice President Mazhar Ali Nasir, Ikhtiar Baig and former Vice President Tariq Halim a statement said that increase in prices of petroleum products will rise business cost.

UBG leaders said that inflation has already broken back of people and after recent increase in price of petrol, poor and middle class people are in mental agony due to new wave of inflation. Leaders said, “Instead of kneeling before International Monetary Fund, our rulers should plan to stand on their own feet and bring policies that will help Pakistan get rid of debt.”

LPG prices are out of control of government and profiteering mafia has become active across country, inflation rate is expected to increase by 25-30 percent, prices of other food items including onion, wheat, flour, pulses, cooking oil have gone up and economic crisis in Pakistan has gone beyond control of government. They said that national policy should be formulated for sustainable economy.

Published in The Daily National Courier, January, 31 2023

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