Rawalpindi: The Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed grave concern over the sharp increase in petroleum prices, warning that the move will have far-reaching consequences for the economy, businesses, and the general public.
RCCI President Usman Shaukat, while reacting to the government’s decision to increase POL prices, stated that the unprecedented hike -- raising petrol prices by Rs137 per litre to a record Rs458.4 -- has effectively doubled transportation costs.
He cautioned that this surge will significantly fuel food inflation and escalate construction expenses, further burdening both consumers and the business community.
He noted that the new petrol price is disproportionately higher than trends in the international market, attributing the spike to the imposition of a record petroleum levy of Rs160.61 per litre. “Such excessive taxation is placing an unbearable strain on the economy and must be urgently reviewed,” he said.
