SCCI demands withdrawal of recent hike in POL prices

F.P. Report

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) has rejected the recent hike in prices of petroleum products, what it called the government’s decision was not in the best interest of Covid-19 hit economy and businesses, which should be withdrawn immediately.

In a statement issued here on Monday, SCCI president Sherbaz Bilour said that the government has recently increased prices of petrol by Rs2.70 per litre, light diesel Rs3 per litre, high speed diesel (HSD) Rs2.88 per litre, which would hit almost coronavirus affected industries and businesses in the country.

The chamber president anticipated that the cost of industrial production would further escalate after the continuously upward trend in prices of petroleum commodities that would bring further inflation.

Eventually, he added the poverty-stricken masses would suffer as a result of the government unjustifiable decision.

Sherbaz Bilour went on to say that the frequent increase in prices of petroleum products would completely halt the industrial development process that could trigger unemployment.

SCCI chief said the continuous surge in prices of petrol commodities was reflecting anti-business and industry policies of the incumbent government, and asked it to immediately withdraw the decision.

He said the surge in prices in POL products twice in a month was completely unfair and incomprehensible which could spike the prices of essential food items, so it would directly affect the common man.

Sherbaz Bilour asked the government to take steps for mitigating problems of the business community instead of further multiplying their miseries by enforcement of ‘anti-business’ policies.

The chamber president demanded the federal government to immediately withdraw the recent hike in electricity tariff and to ensure uninterrupted power supply to industries across the province.