UBG urged the government to control price increasing trend of petroleum products

 LAHORE, Feb 09 (APP): The United Business Group (UBG) on Tuesday urged the government to control price increasing trend of petroleum products which was affecting the country’s economic growth and exports as well.

UBG Chairman Iftikhar Ali Malik told the media after a meeting with a delegation of Kasur Industrial Estate, led by Ahmad Waqar Chaudhry Arain, that hike in the oil prices would depress the supply of goods due to subsequent increase in the cost of production.He cited that hike in POL prices left the manufacturers with no other option but to increase the price of their respective goods and services due to which common man also suffered.

He suggested the government to freeze the prices of petroleum products, gas and power tariffs for industries especially exports related and itself bears the burden of price hike to boost the industrial production.

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