President Sialkot Chamber of Commerce and Industry (SCCI) Naeem Anwar Qureshi in a press statement strongly criticised the decision of the government of increasing petroleum prices by about 8 to 9 percent, the second highest increase in the country's history and stressed that the price increase must be withdrawn immediately. The increase in petroleum prices would add to the rising inflation and the cost of industrial production that is already under pressure because of higher electricity and gas charges he said.
Naeem said that in case the petroleum prices rise in the international market, the government should itself absorb maximum impact by reducing taxes and duties to maintain the petroleum prices at the minimum level. Expressing great concern, the President of the Sialkot Chamber said that the people are already pushed to the wall unable to bear the brunt of sky high oil prices. He said that the only beneficiaries are oil marketing companies whose profit margins would increase by making life miserable for the general public. This is being done at the cost of business, trade and the people.
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