KARACHI, Oct 27: Chairman All Pakistan Textile Mills Association (Aptma) Muhammad Iqbal Ibrahim has made a strong plea to reduce immediately prices of petroleum products, particularly the furnace oil as international oil prices are now down to $60-65 a barrel.

In a statement, faxed to Dawn, the Aptma chief contended that the people in Pakistan in general and businessmen in particular have legitimate expectations from an elected government to respond to their economic woes and take corrective measures.

He appreciated the bold decision taken by Federal Minister of Water and Power Raja

Ashraf Pervez to offer an interim 40 per cent relief on electricity bills for September, which have been issued to the consumers.

He called it a positive action taken in response to the presentation made by a businessmen delegation at the Governor House in Karachi.

Mr Ibrahim also welcomed the formation of a sub-committee headed by Ms Rabbani Khar, special assistant to the prime minister on Economic Affairs, that include parliamentarians, bureaucrats and representatives of the private sector.

He hoped the committee will review all aspects of the power tariff and take into account views of all the stakeholders.