SCCI chief censures govt over increase in PoL products prices

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) President Sherbaz Bilour has censured the government over an unprecedented increase in prices of petroleum commodities and warned that the business community will strongly protest if the decision wasn’t taken back immediately.

Bilour while chairing a meeting of small traders and industrialists here at the chamber house on Friday said that the recent hike of Rs5 per litre in the price of petrol is highly worrisome, saying that the whopping hike in PoL products is unacceptable, which was completely rejected.

SCCI chief noted the country’s economy has already been brought on the brink of a complete collapse as a result of ‘anti-businesses’ and industries policies of the present government, while the inconsistency in prices of patrolmen products, electricity and gas would be further deteriorating the situation after an increase in prices of petroleum commodities.

He viewed that petrol, electricity and gas are the major utilities, which have been used as raw materials for industrial production and other means, if the escalating trend would continue in prices that can increase the cost of industrial productivity, eventually it would have trickle-down impacts of the business community and people from different walk of life, including poor people.

Article continues after this advertisement

Bilour continued to say that the excessive increase in PoL prices and relentless depreciation of the Pakistani rupee against the dollar would bring a new wave of inflation in the country that would also affect industrial growth and closure of industries, and can trigger mass-scale unemployment.

Instead of focusing on anti-business policies and actions, the SCCI chief asked the government to announce a special fiscal relief package for Covid-19 hit small traders and industries.

He emphasized the consistency in economic policies for building a sustainable business environment, economic and trade activities.

The chamber president demanded the government to take back its decision of unprecedented increase in prices of petroleum products to avoid elevating miseries of the business community and poor working class.

If not to do so, he warned that the community will take to the streets against the government’s policies and actions.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

PSX revises market timings

KARACHI: The Pakistan Stock Exchange (PSX) has announced revised timings of the market, which will take effect from the date of 'Go Live' of...