Traders hail Rs74 petrol price cut

FPCCI president says cheaper fuel will boost exports, urges electricity tariff reduction

ISLAMABAD:

Pakistan's trader and industrial community has strongly welcomed the announcement of a Rs74 per litre reduction in petrol prices and Rs67 per litre cut in high-speed diesel, calling it a highly positive decision for the economy.

They said the move will benefit not only the public but also all major sectors of the economy, including industry, trade, agriculture, and transport, by easing cost pressures and supporting economic activity.

Business leaders including Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh, Markazi Tanzeem Tajiran Pakistan President Kashif Chaudhry, and All Pakistan Anjuman Tajran Islamabad President Ajmal Baloch praised the government's decision to pass on the benefit of declining international oil prices to domestic consumers.

Sheikh said the government should now focus on further reforms in the energy sector, calling for a significant reduction in electricity prices for industrial, commercial and domestic consumers, along with the removal of unnecessary surcharges and financial burdens.

He stressed that Pakistan's export industry is facing intense regional competition, and only cheaper electricity and fuel can make local industry globally competitive.