ISLAMABAD: Islamabad Chamber of Small Traders on Saturday lauded the decision of the Prime Minister Nawaz Sharif for not accepting the recommendation of Ogra regarding oil price hike and allowing a minimal increase.
The energy regulator had proposed an increase of Rs2.28 per litre for petrol, Rs2.04 for high speed diesel, Rs13 per litre for kerosene and Rs7.75 per litre for light diesel oil.
However, the Prime Minister decided partial increase in the prices of petrol and high speed diesel by Rs1 per litre. The prices of light diesel oil and kerosene were kept unchanged which is laudable, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
He said that the government has provided relief to the industry by keeping the price of light diesel oil unchanged.
The approval of the proposal of Ogra would have unleashed a wave of inflation across the country while jacking up cost of doing business and hurting every sector, he added.
Shahid Rasheed Butt said that petrol and diesel are used by the majority of people as petrol is used by motorists and motorcyclists while diesel is used in the agriculture and transport sectors and high prices of diesel directly hit farmers and cause inflation.
The business leader said that now the price of petrol has gone up to Rs74 per litre from the yesterday’s price of Rs73 per litre while high speed diesel is available at Rs83 per litre from the earlier price of Rs82 per litre.
He said that different transport association have announced not to revise fares due to minimal increase in fuel prices which is a good omen.
