The Federal B Area Association of Trade and Industry (FBATI) has strongly opposed the daily revision of petroleum prices, citing severe pressure on industrialists from recent increases. President Sheikh Tahseen highlighted the Rs5.36/litre rise in petrol and Rs31.05/litre in diesel, warning these hikes will escalate transportation and production costs, trigger a new wave of inflation, and reduce export competitiveness. FBATI urged the government to review petroleum levies and taxes to support industrial growth and prevent further economic decline. This inflationary pressure and potential economic slowdown could weaken the PKR against the USD, making gold a more attractive hedge for investors in Pakistan.
بحوالہ / Source: www.brecorder.com