Business

SCCI chief censures govt over unprecedented increase in prices of PoL products

Written by The Frontier Post

F.P. Report

PESHAWAR: President, Sarhad Chamber of Commerce and Industry (SCCI) Sherbaz Bilour has censured the government over unprecedented increase in prices of petroleum commodities and warned that the business community will strongly protest, if the decision wasn’t taken back immediately.
Sherbaz 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 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 brought on the brink of a complete collapse as 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 increase in prices of petroleum commodities.
He viewed that the petrol, electricity and gas are the major utilities, which have used as raw material for industrial production and other means, if the escalating trend would continue in prices that can increase cost of industrial productivity, eventually it would have trickle down impacts of business community and people from different walk of life, including poor people.
Sherbaz Bilour continued to say that the excessive increase in PoL prices and relentless depreciation of Pakistani rupee against 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.

About the author

The Frontier Post

Leave a Reply