The Markazi Tanzeem-e-Tajiran (Central Traders Organisation) on Tuesday condemned the further increase in the prices of petroleum products (POL).
According to the details, the leader of traders Kashif Chaudhry said, “The country will witness a tsunami of inflation with the increase in the prices of POL products.”
“Due to the current electricity and gas prices, it has become difficult to continue business activities,” Chaudhry said.
The Prime Minister Shehbaz Sharif-led government had earlier announced a massive hike in petrol and diesel prices.
As per the latest announcement, petrol price increased by Rs 9.99 to hit a new high of Rs 275.60 per litre.
Likewise, high-speed diesel saw a sharp increase of Rs 6.18 per liter now at Rs 283.63.
These new rates will come into effect from midnight and will remain in effect until July 31.