KATI president urges reversal of POL hike.

Published date17 April 2024

KARACHI -- President of the Korangi Association of Trade and Industry (KATI), Syed Johar Ali Qandhari, appealed to the government to rescind the recent hike in petroleum product prices, warning of dire consequences such as industrial closures, inflationary pressures, and a surge in unemployment if swift action is not taken.

In a statement issued on Tuesday, he highlighted the pressing need to address challenges faced by industrialists to boost exports and enhance Pakistan's economic standing. 'We are already facing 38% high cost of doing business in comparison with regional countries including India, Bangladesh, Maldive, Bhutan and others,' he said.

Qandhari highlighted that the escalating transportation costs are severely impacting industrialists and urged the government to promptly alleviate production costs to enhance global competitiveness.

Expressing concern over the recent surge in petroleum product prices, the KATI...

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