The government must endeavour to bring stability in fuel and energy prices for ultimate success of trade and economic policies. This was stated by President Gujranwala Chamber of Commerce and Industry (GCCI) Ikhlaq Ahmad Butt while talking to Business Recorder, here on Monday.
Butt maintained that inflation rate rose to 7.63 percent in the very first month of the current fiscal year, that brought about corresponding increase in gasoline and energy rates. He added that instability in fuel prices was followed immediately by increase in transportation rates and price hike. Under these circumstances it would be difficult to achieve export targets fixed by the government, he added.
He argued that increase in fuel rates and consequent price hike increased cost of production manifold. He observed that a major part of population was living below poverty line and instability in prices, inflation and spiralling price hike were making life more miserable.
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