LAHORE – The Lahore Chamber of Commerce and Industry on Friday appreciated the Federal Government’s move of withdrawing the increase in prices of petroleum products and termed it a bold step in the larger interest of the people.
In a statement issued here, the LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that the withdrawal in prices of petroleum products would not only give some relief to the inflation-hit masses but it would also benefit almost all sectors of the economy. Industry and agriculture would both benefit from this marvelous decision as the increase had caused a considerable jump in transportation costs of industrial and agricultural products.
The LCCI office-bearers, however, urged the Prime Minister to ensure implementation of his decision regarding supply of gas to the industry in Punjab. Despite clear instructions of the Prime Minister that no discrimination would be done with Punjab’s industries, the situation is still the same and the entire industrial sector was suffering unbearable losses and fast becoming uncompetitive even in the domestic market as industries in other provinces are getting regular supply of gas, they added.
Withdrawal of intolerable increase in the prices of petroleum products is a step in right direction and would provide relief to the trade, industry and masses as well.
Prime Minister Syed Yousaf Raza Gillani should ensure implementation of his decision regarding continuous gas supply to the Punjab’s industries. In a press statement issued here Friday, PIAF Chairman Irfan Qaiser Sheikh, Vice Chairmen Iqbal Baig Chughtai, Shahzeb Akram and LTIA Chairman Haroon Shafiq Chaudhry said that the industry of Punjab is on the death bed due to 3-4 days gas load shedding.
They said that gas suspension had put the jobs of thousands industrial workers on the stake as the industrialists were facing difficulties in fulfilling the orders from their foreign buyers.
They said that the exports were declining with every passing day due to acute shortage of gas and this shortage could easily be bridged by taking all the provinces into the confidence. They said that had a policy to this regard been evolved a few years ago, the situation would have been quite encouraging today. The industry leaders urged the government to evolve a proper mechanism to fix the prices of petroleum products as repeated increases always give bad name to the government.
