KARACHI: Acting President of Korangi Association of Trade and Industry (Kati), Farrukh Qandhari Tuesday expressed concern over the rising inflation in the country which he says has reached 20 percent. A further increase in electricity tariff is on the cards, he added.
He said that survey reports including the Pakistan Bureau of Statistics (PBS) have revealed that Pakistan is the most expensive country in the region now.
Such news is a matter of concern for the government. The government is increasing the price of electricity day by day, which has raised the cost of production to an alarming level.
After which the industrialists will have no choice but to close down the industry and transfer their capital to other cities or abroad.
Acting president Kati said that rising inflation has made life miserable for the common man, which could worsen the law and order situation and also increase pressure on the economy.
He said that the industrialists were already asking the government that it was necessary to take timely action otherwise economic stability was not possible.
Qandhari appealed to the government to take concrete steps to control inflation and reduce production cost to restore the confidence of local investors, industrialists and foreign investors.
Copyright Business Recorder, 2021
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