Petrol Price Cuts Has Not Yet Eased Transport Fares so Price Control Measures is necessary, KATI President

KARACHI: President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has expressed concern that despite substantial reductions in petroleum prices, the benefits have yet to reach the general public, leaving low- and middle-income households under continued pressure from high inflation.

In a statement, Rajput said the public had expected prices of essential commodities to decline following the reduction in fuel prices. However, contrary to those expectations, transport fares, freight charges, and other costs that were previously increased on the pretext of higher petrol and diesel prices have not been revised downward.
He noted that prices of basic necessities continue to remain at elevated levels, adding to the financial burden on both consumers and the industrial sector.

Referring to the latest data released by the Pakistan Bureau of Statistics (PBS), Rajput said the country’s annual inflation rate stood at 11.07 percent last month, indicating that government measures aimed at stabilizing prices have yet to produce the desired results.

The KATI president also highlighted the lack of effective market oversight, particularly in Karachi and other parts of the country, where profiteering and hoarding continue to inflate the prices of essential goods. He urged the relevant authorities to launch indiscriminate action against hoarders and profiteers and ensure strict implementation of officially notified prices.

Rajput called on the government to ensure that the reduction in petroleum prices translates into tangible relief for the public. He urged the authorities to immediately reverse increases in transport and freight charges that were imposed due to higher fuel prices and to strengthen the price control mechanism to bring down the cost of essential commodities.

“Unless the government effectively enforces price controls and passes on the benefits of lower fuel prices to consumers, inflationary pressures will continue to affect households and businesses alike,”

he said, adding that restoring public confidence requires timely and practical measures that deliver real economic relief.