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Govt accused of earning huge illegal profit on petroleum prices.

Lahore Lahore (ləhôr`), city (1998 pop. 5,063,499), capital of Punjab prov., E central Pakistan, on the Ravi River. It is the second largest city of Pakistan. , September 02, 2009 (Frontier Star): Mohammad Pervez Malik Noun 1. malik - the leader of a town or community in some parts of Asia Minor and the Indian subcontinent; "maliks rule the hinterland of Afghanistan under the protection of warlords" , Senior Political Assistant to Chief Minister Punjab and former Member of National Assembly, has strongly criticized the government for earning huge illegal profit on petroleum prices. In a Press Statement issued here on Wednesday, Pervez Malik said that government has raised the prices of petroleum products without thinking its very bad affects on trade, industry and common man. He said it seems that after a few days government would also raise the prices of electricity as well. He said industrial input cost would further rise, as petrol petrol: see gasoline.  and electricity are the basic raw materials of industry. He said Pakistani merchandise are already suffering hard to compete in the international market and if government keep continue to take negative steps, Pakistani exports would further squeeze. He said at the time when trade, industry and common man are fighting for their survival, despite conferring any relief, government is putting more fuel on fire. He said raise in petrol price would reduce the peoples buying power Buying Power

The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available.

Also referred to as "Excess Equity.
 and poverty level would go up. He urged upon the government to immediately withdraw the raise in petroleum prices and cut its own expenses without sipping the blood of nation.

(THROUGH ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population.  PULSE)
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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Date:Sep 2, 2009
Words:205
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