PESHAWAR: Traders, leaders of political parties and members of civil society have rejected the recent increase in prices of petroleum products and urged the federal government to withdraw its decision immediately.

Sarhad Chamber of Commerce and Industry and Tahir Itehad Khyber Pakhtunkhwa strongly opposed the hike in prices of petroleum products and described it as an irrational decision on part of the rulers.

The chamber president, Fazal Moqeem Khan, said that the rising prices would not only increase industrial costs, but also erode competitiveness of Pakistani goods in the global market.

Other businessmen including Abdul Jalil Jan, senior vice president and Shehryar Khan, vice president and members of the SCCI’s executive committee described the hike as a “ticking time bomb” that will set off another wave of inflation. “Businesses which are already grappling with severe inflationary pressures, are now facing the looming threat of closures.”

They said that there was a visible increase in the transport fares after the in fuel price hike; resultantly, prices of essential food items have also jumped up that will bring a new ‘tsunami of inflation’.

The business leaders feared very tough days ahead for consumers, warning of a sharp increase in the prices of food items due to the unprecedented increase in petrol and diesel rates in the last one month. They criticized government policymakers for treating fuel pricing as a convenient “fiscal shortcut” that destabilizes the broader macroeconomic foundations.

SCCI leaders wondered how petrol has transformed from a basic necessity into a daily financial burden, driving up transport costs, electricity bills, and prices of consumer goods nationwide. They stated the relentless surge in fuel prices, electricity and gas would make businesses unsustainable and unviable.

However, Tahir Itehad Khyber Pakhtunkhwa President Mujeeb Ur Rehman also rejected the hiked fuel prices and feared that it would lead to unprecedented hike in prices of all daily use commodities.

Qaumi Watan Party spokesman Tariq Ahmad Khan also urged the federal government to reverse the increase in fuel prices. He said the majority of the people have already been living under the poverty line and such decisions would further add to problems of the poor masses.

Emir of Jamaat-e-Islami Pakhtunkhwa (central chapter) in a statement strongly condemned the recent increase in fuel prices, calling it an act of extreme anti-people act by the federal government. “Within a month, petrol prices have increased by Rs 13.72 per liter, while diesel prices have surged by Rs 21.76 per liter,” he said.

The JI leader warned that this price hike would severely affect the already struggling low income group exacerbating poverty and inflation. He criticized the federal government for not providing relief to the people despite the decrease in global oil prices. He demanded that the government immediately reduce fuel prices to alleviate the burden on the common man.—AMJAD ALI SHAH