KARACHI: The Pakistan Chemicals & Dyes Merchants Association (PCDMA) has raised concerns over the recent Rs55-per-litre increase in petroleum product prices. The association warned that the sharp fuel price hike is affecting businesses and slowing commercial activity across the country.
PCDMA Chairman Salim Valimuhammad said the sudden rise in petrol and diesel prices has placed an “extraordinary financial burden” on traders. He emphasized that importers and exporters are particularly affected, as higher transportation and operational costs are squeezing profits.
According to Valimuhammad, the escalating fuel price is pushing overall business costs to unsustainable levels. The association believes this could result in reduced investment and slower economic growth if corrective measures are not taken promptly.
The chairman called on Prime Minister Shehbaz Sharif to intervene and implement policies that mitigate the impact of rising fuel prices. He urged the government to consider targeted subsidies or other relief measures to support traders and industries most affected by the increase.
The PCDMA highlighted that higher petroleum costs have a cascading effect on multiple sectors. Transportation, logistics, manufacturing, and retail operations face rising expenses, which are ultimately passed on to consumers, increasing inflationary pressures.
Business leaders argue that sudden increases in fuel price without adequate planning or support mechanisms threaten Pakistan’s competitiveness in international trade. Exporters fear that their goods will become less competitive due to higher shipping and production costs.
The association also recommended a review of the current fuel pricing mechanism. Officials suggested more predictable adjustments and communication to allow businesses to plan accordingly.
PCDMA members warned that continued escalation in fuel costs could slow commercial activity further, reduce industrial output, and impact employment. Traders and business owners are seeking immediate government support to prevent an economic slowdown.
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In conclusion, PCDMA’s statement underscores the urgent need for policy interventions to address the financial strain caused by the rising fuel price, stressing that businesses and the broader economy are at risk if the situation continues unchecked.
