By Commerce Reporter
LAHORE: The Pioneers Businessmen Group (PBG) has expressed serious concern over the recent increase in petroleum prices, warning that the move could significantly aggravate Pakistan’s already fragile economic conditions.
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In a statement, PBG Chairman Ali Hussam Asghar, along with group office-bearers, termed the decision highly sensitive, particularly at a time when the country is grappling with inflation, sluggish business activity and mounting financial pressures.
The group cautioned that higher fuel prices would not only burden the general public but also sharply raise operational costs across industries. Increased transportation, production and logistics expenses are expected to push prices of essential goods further upward, intensifying inflation and reducing consumers’ purchasing power.
Asghar highlighted that the business community is already facing multiple challenges, including heavy taxation, elevated energy tariffs, currency volatility and weak demand. He warned that additional fuel price hikes could dampen investment sentiment and further strain the business environment.
PBG urged the government to reconsider the decision and adopt balanced measures to provide relief to both the public and the business sector. The group emphasized that sustainable economic policies and business-friendly initiatives are essential for steering the economy toward stability.
The organization reaffirmed its commitment to advocating for the interests of the business community and raising its voice on issues affecting economic stability and commercial activity.
