SIALKOT – Sialkot Chamber of Commerce and Industry (SCCI) President Ghulam Mustafa Chaudhry has taken strong exception to the decision to increase petroleum prices by nine to thirteen percent and stressed that the price increase must be withdrawn immediately.
In a statement, he said that the increase in petroleum prices would add to the rising trend of inflation and the cost of industrial production that is already under heavy pressure because of higher electricity and gas charges. The only beneficiaries were oil marketing companies whose profit margins would increase by making life miserable for the general public, he said.
He noted, “This is being done at the cost of business, trade and the people. He feared that not only the transportation cost of goods would increase but fares of public transport would also increase manifold. The increase is detrimental for business and industry as production price would go up and exports would suffer badly.”
It was stressed that petroleum prices are being increased every month and add to the woes of every citizen of Pakistan. He said that the ultimate effect of this harsh situation will be the closure of industry which would lead to flight of capital, massive unemployment and decline in the revenue of government.
It was pointed out that it was time that the government should extend support to ailing business and industry rather than raising petroleum prices, making life difficult for the people of Pakistan. He demanded the government immediately withdraw increase in the prices of petroleum products to provide relief to the people, to enable the industrial wheel to move, and allow trade and business to sustain.
PIAF blasts govt decision
LAHORE – Pakistan Industrial and Traders Associations Front (PIAF) has lambasted the government for making a ‘bulk’ increase in petroleum prices in a single step and termed it very bad news for the country’s economy which is already under severe pressure.
In an issued statement, the PIAF Chairman Sohail Lashari, Vice Chairmen Nadar Kamal Osman, Junaid Iqbal Sheikh, Lahore Township Industrial Association Chairman Haroon Shafiq Chaudhry and Pakistan Auto Parts Manufacturers and Exporters Association Chairman Tahir Javed Malik while strongly reacting on this anti-industry decision, said that the government did not bother to pass on the benefit of a decrease in oil prices in international market earning billions of rupees while now introducing a huge rise in petroleum prices.
It was noted that PIAF has for several months called on concerned government bodies to take measures for the promotion of alternate fuels as the trade deficit was fast widening due to heavy imports under the head of petroleum products.
