Transport Fares to Rise as Fuel Prices See Massive Hike in Pakistan
The Pakistan Goods Transport Alliance has announced an increase in freight fares following a sharp rise in petroleum prices, warning of severe economic consequences.
Alliance President Malik Shehzad strongly criticized the hike, stating that the increase in fuel prices would trigger a wave of inflation across the country. He added that flawed government policies are already causing widespread unemployment, and failure to review the decision could bring the transport sector to a halt.
Meanwhile, the Pakistan Public Transport Owners Association has called an emergency meeting today to discuss the impact of rising diesel prices. The association expressed concern that fares cannot be increased in proportion to the fuel price hike, suggesting that transporters are being pushed toward shutting down their businesses.
The government recently announced a record increase in fuel prices. In a joint press conference, Petroleum Minister Ali Parvez Malik and the finance minister revealed that petrol prices have been raised by Rs137.24 per litre, bringing the new price to Rs458.41 per litre. Diesel prices have also surged by Rs184.49 per litre.
The unprecedented hike is expected to have far-reaching effects on transportation costs and overall inflation nationwide.
