LAHORE, MAR 1 /DNA/ – The Pakistan Industrial and Traders Associations Front (PIAF) has strongly criticized the federal government’s latest decision to raise petrol and diesel prices, warning that the move will place additional financial pressure on businesses, transport operators, and consumers across the country.
PIAF Chairman Faheemur Rehman Saigol, who is also President of the Lahore Chamber of Commerce and Industry, said the petrol price increase of almost Rs8 per litre and diesel hike of Rs5 per litre, effective immediately for the next 15 days, will escalate operational costs for industries that are already struggling with inflation and high energy tariffs.
Faheem Saigol noted that Pakistan imports around 85 percent of its petroleum requirements, making the country highly sensitive to fluctuations in global oil prices. “While we understand that fuel pricing is influenced by international market trends, sudden and repeated hikes create uncertainty for businesses and disrupt planning. Industries, transporters, and consumers bear the brunt of such volatility,” he said.
He added that the cumulative effect of these fortnightly revisions is particularly concerning for small and medium enterprises, which have limited capacity to absorb rising input costs. “Without stable energy pricing, manufacturers face higher production expenses, which are ultimately passed on to consumers, further fueling inflation,” Saigol warned.
PIAF Senior Vice Chairman Nasrullah Mughal emphasized that continuous fuel price increases are unsustainable and could slow down economic recovery. “Transport costs are a major component of the overall cost of doing business. Every hike in petrol and diesel adds to logistics expenses, impacting supply chains and market prices. If unchecked, these increases will make goods less competitive domestically and internationally,” he said.
Mughal urged the government to consider alternative measures, including targeted subsidies for critical sectors and strategic planning to stabilize domestic fuel prices, rather than passing on every fluctuation in global oil rates directly to consumers. According to him, clear communication and long-term energy planning are crucial to maintain industrial stability.
PIAF Vice Chairman Tahir Manzoor Chaudhry highlighted the cascading effects of rising fuel costs on households and essential services. “Higher fuel prices immediately translate into increased transportation fares, elevated costs of goods, and pressure on daily household budgets. This affects purchasing power, dampens consumer demand, and puts additional strain on the overall economy,” he said.
Chaudhry urged authorities to adopt a balanced approach that considers the welfare of both the public and the business community. He stressed the need for predictable pricing mechanisms and transparency in fuel policy to enable businesses to plan operations and manage costs effectively.
The PIAF leadership collectively warned that repeated fuel price hikes could slow industrial growth, raise production costs, and aggravate inflationary pressures, further challenging an already fragile economic environment. They reiterated that industry requires stable energy pricing, supportive policies, and strategic interventions to maintain competitiveness and protect livelihoods.
Faheem Saigol concluded that the government should engage with business representatives to explore sustainable solutions for energy pricing and import management. “Ensuring predictability in fuel costs is essential for economic stability. We urge policymakers to consider the long-term impact of these increases on industry, transport, and consumers alike,” he added.
The PIAF reaffirmed its commitment to working with the government to foster an environment that balances fiscal requirements with the needs of the business sector, emphasizing that predictable policies are key to boosting investor confidence and sustaining economic activity.
