PESHAWAR: Members of the business community expressed grave concern over rising gas, electricity prices, and retaining policy rate at highest level and economic and industrial slow-down, urging the government to frame business-friendly policies to stabilize the economy.

The concern was taken up during a meeting of delegation of Khyber Pakhtunkhwa businessmen led by president of Industrialists Association Peshawar (IAP) Ayub Zakori with Caretaker Prime Minister Anwarul Haq Kakar at PMO, said in a press release here on Friday.

Other members of the delegation include Senator Nauman Wazir, SVP Haris Mufti, and Secretary General Muqtasid Ahsan, Executive members Adeel Rauf, Sherbaz Bilour and Zarak Khan.

During the meeting, Governor SBP, Secretary Finance Division, Chairman NHA and FBR, members FBR Policy custom, IR Ops, Custom Ops, Chiefs of FBR Policy customs and IR Ops were also present.

In the meeting, concerns of industrial sector over economic challenges, higher energy prices and costs pushed on to consumers, all time high monetary policy rate and cost push inflation, credit lending and loan portfolio issues to private business against provincial bank deposits, and implementation of Axle load regime which is mother to higher national fuel bill and commodity costs were extensively dissected and discussed.

Ayub Zakori while speaking on the occasion said prices of gas, electricity and fuel along with bringing policy rate to single digit is essential for flourishing business, trade and industries and stabilization of the economy. He urged the government to thoroughly review all decisions and frame policies in the best interest of the national economy.

The Caretaker Prime Minister Anwarul Haq Kakar assured the KP businessmen delegation of taking proactive steps for early resolution of all issues. In this regard, the interim premier on the occasion directed concerned ministries, divisions, secretaries and institutions to resolve highlighted issues.

Copyright Business Recorder, 2024