KARACHI – The latest increase in petrol and diesel prices has triggered serious concerns among industrialists and the general public, who fear the move will worsen inflation, raise transportation costs, and slow down economic growth.
According to a government notification, petrol prices have been raised by Rs5.36 per litre, bringing the new rate to Rs272.15, while High-Speed Diesel (HSD) saw a steep jump of Rs11.37, now priced at Rs284.35 per litre.
Industrial leaders warn that this price hike will directly impact manufacturing costs, exports, and job sustainability. Korangi Association of Trade and Industry (KATI) President Junaid Naqi said rising fuel prices, combined with high taxes and energy costs, are suffocating businesses. He urged authorities to take notice before more industries are forced to shut down.
Mian Zahid Hussain, a leading business figure, warned that the burden of this increase would fall on the middle and lower-income groups. He said the rise in transport and logistics expenses will lead to further hikes in essential items, making daily life even harder for the common man.
This marks the second consecutive fuel price hike in July, with businesses now demanding relief and a clear long-term strategy to stabilise fuel costs. If unchecked, they warn the current situation could lead to widespread unemployment and a deeper economic slowdown.
This story has been reported by PakTribune. All rights reserved.
