Islamabad: The Islamabad Chamber of Commerce & Industry has called upon the government to pass on the full
benefit of reduced oil prices to the people as the price of crude oil in international market has witnessed around 29 percent reduction from September 2018 to September 2019 but the government has made insufficient cut in petroleum prices from 1st September 2019 that was not a right approach.
Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that PTI government twice increased POL prices during 2019, but provided slight relief to the people by making a meagre cut in POL prices for September. He said that crude oil price in September 2018 was $78/barrel that has come down to below $55/barrel showing a reduction of around 29 percent. Therefore, he stressed that government should reduce POL prices in proportion to the fall of crude oil price in the international market to pass on full benefit of reduced prices to the people.
