The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday urged the government to immediately withdraw increase in prices of petroleum products. The LCCI office bearers; President Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Meher and Vice President Saeeda Naza in a statement said that the recent increase in the prices of petroleum products would hit both the Industrial and Agriculture sectors hard besides jacking up the rate of inflation in the country.
They said that the entire industrial sector was already facing multiple internal and external challenges while the recent increase would further aggravate the economic situation.
They said Pakistan's agriculture sector is engine of growth. The increase in diesel prices would increase the input cost of agriculture production as high speed diesel is being used in the tractors, tub-wells, harvesters, thrashers and other agriculture machinery. They said that the cost of thermal generation by private sector would also go up.
The LCCI said that not only the transportation cost of goods would multiply but fares of public transport would also increase manifold. They said that government is producing huge amount of electricity through thermal means and after increase in petroleum prices, the electricity charges would touch new highs.
They said that the LCCI had for the last many months been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deficit was fast widening due to heavy imports under the head of petroleum products but government has not taken a single step to this regard.
They demanded of the government to withdraw the increase in petroleum prices immediately instead of playing role of silent spectator on the issue.
They said that Chambers of Commerce & Industry and other trade bodies are giving call of disobedience and government should avoid swelling their anger.
Comments
Comments are closed.