KARACHI: The Pakistan Goods Transport Alliance has rejected the recent increase in petroleum product prices, declaring it unacceptable, ARY News reported on Wednesday.
Alliance President Malik Shahzad Awan said transporters cannot bear further losses, stressing that the frequent hikes in petrol and diesel prices are creating instability within the transport sector.
He announced a 3% increase in fares, warning that transport unions are set to make another major decision soon if the government does not reconsider the price hike.
It is to be noted that the federal government announced new petrol prices and diesel prices for the next fortnight.
Also Read: OGRA announces reduction in LPG prices for October
According to a notification issued by the Ministry of Finance, the petrol price has been raised by Rs4.07 per litre, taking the new rate to Rs268.68 per litre. Similarly, the price of high-speed diesel has gone up by Rs4.04 per litre, with the new rate fixed at Rs276.81 per litre.
The new petrol price and diesel rates have come into effect immediately.
Earlier today, the Oil and Gas Regulatory Authority (OGRA) announced a reduction in liquefied petroleum gas (LPG) prices for the month of October.
According to the notification, the price of a domestic LPG cylinder has been cut by Rs79.14, bringing the cost down from Rs2,527 to Rs2,448.