KARACHI: The Union of Small and Medium Enterprises (Unisame) has said that the exorbitant rise in the fuel prices is a terrible blow and setback to the logistics of the country and supply chain already hit by hyperinflation, a statement said on Monday.

Unisame President Zulfikar Thaver said that the latest increase in the prices of fuel has also affected the farming sector and increased the cost of production and logistics.

The transporters, goods carriers, passenger buses, rickshaws, taxis and private cars facilitators increased fares making the prices of goods and commuting unaffordable for people, the Unisame president added.

Every segment is increasing their rates and prices more than what the actual effect is, he said, adding that they are taking advantage of the situation by increasing the prices beyond the actual impact.

This is bringing about a wave of inflation which has never been witnessed before and the worst sufferers are the common people who will not be able to cope up with the all-round increase in almost everything.

The Unisame Council members expressed dismay on the escalation in the prices of fuel, saying that the micro to medium sector will find it challenging to operate and survive in such a situation where the working cost has increased beyond the income and made units non-viable compelling them to halt operations.

The members urged the government to convene an urgent meeting of the transporters and logistic companies to decide on a workable framework.