Lahore and Faisalabad Chambers of Commerce and Industry have unanimously demanded of the government to immediately bring down the prices of petroleum products in line with international prices, which have registered over 23 percent decrease.
The demand was raised by the office-bearers of both the Chambers during a meeting in Faisalabad Chamber of Commerce and Industry on Friday, said an LCCI's spokesman.
LCCI president Shahid Hassan Sheikh, senior vice president Yaqoob Tahir Izhar, vice president Mubasher Sheikh, FCCI president Ayub Sabir, senior vice president Shahzad Anwar Johari and vice president Sheikh Abdul Qayyum threw light on the negative impact of high prices of petroleum products. LCCI former Presidents Mian Misbahur Rehman and Mian Shafqat Ali among others also attended the meeting.
The office-bearers of Faisalabad Chamber of Commerce and Industry also announced to extend co-operation to the Lahore Chamber of Commerce and Industry for the forthcoming FPCCI elections due in December.
They were of the view that at a time when the government was taking all necessary steps for raising exports and bringing in more and more foreign investment it would have to look into the prices of inputs, which are now touching the peak.
At the moment when the prices of petroleum products have nose-dived to below 60 dollars per barrel from the 78 dollars per barrel, there is no justification left with the Oil and Gas Regularity Authority (Ogra) to keep the prices at previous level.
Earlier, speaking on the occasion, the LCCI president said that the ever-increasing rates of energy are the biggest irritant, which is making Pakistani goods in-competitive in the world. He said that one of the new major initiatives taken by the Lahore Chamber is the dissemination of information to the exporters about potential export markets available in the world and cheap sources of imports.
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