SITE industrialists concerned over rising oil prices

According to Business Recorder, industrialists in Karachi's SITE area, the city's largest industrial zone, have voiced serious alarm over another steep rise in petroleum prices. They warned that mounting production costs, costly energy and heavy levies might force factories to shut, hurt exports and fuel fresh job losses. Diesel and petrol were raised again by Rs3.72 and Rs12.90 respectively, adding to the strain on businesses.

Abdul Rehman Fudda, president of the SITE Association of Industry, questioned whether the government wanted plants to keep operating and jobs protected, or whether firms were being left with no choice but to close. He urged an end to daily fuel price revisions and a move to a 15-day pricing cycle. Greater stability, he said, would help manufacturers and exporters estimate costs and sign commercial deals.

He said the rises came as the government claimed to be pursuing more exports, investment and ease of doing business. Manufacturers already face higher costs than regional competitors, while SMEs are sliding deeper into difficulty and large units face growing survival challenges. Fudda cautioned that shrinking industrial activity would cut jobs, particularly for young people, and could deepen social problems.