PESHAWAR: President, Sarhad Chamber of Commerce and Industry (SCCI) Husnain Khurshid Ahmad has said the frequent increase in prices of petroleum commodities, Liquefied Petroleum Gas (LPG), electricity and natural gas tariffs would be proved detrimental for the country’s economy and asked the government to withdrawn recent hike in petrol prices.
Otherwise, he warned that the business community will strongly protest, if the decision wasn’t taken back immediately.
Husnain Khurshid was talking to different delegations of traders and industrialists after assuming charge of his office here at chamber house on Friday.
The SCCI chief said the government has made another increase of Rs4 petrol per litre, which was unacceptable and rejected.
He 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,
The chamber president feared that the frequent increase in prices of petroleum products, electricity and gas would be further aggravating the situation.
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.
Husnain Khurshid 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 another 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.