President Islamabad Chamber of Commerce & Industry (ICCI) Nasir Khan welcomed the decisions of Economic Coordination Committee (ECC) of the cabinet particularly to control the LPG prices by connecting its price from the prices of local market, because 97 percent of its production produces in the country.
He mentioned that LPG prices raised up in last 16 months up to 119 percent. He also welcomed the decisions of withdrawing 15-percent duty on exports of sugar and enhancement of regulatory duty from 10 to 25 percent on the imports of the commodity.
He also appreciated the ECC decisions for enhancing the flour quota for only functional mills. The president ICCI also showed his great concern that due to wheat shortage, flour prices are gradually increasing in the twin cities.
He suggested that government should control wheat smuggling with strict measures. This would ensure the availability of enough stock of wheat in the country.
He expressed the hope that this would also help the stability of the wheat prices in the country. The president LCCI also showed his great concern over the rapidly increasing prices of flour, which are touching about Rs 360 per 20 kilogram bag.
The ICCI president said that keeping in the view of hardship of masses, the government has decided not to increase petroleum prices despite the hike in the international markets, is a good decision.