PESHAWAR: Sarhad Chamber of Commerce and Industry president Fazal Moqeem Khan on Saturday termed the increase in prices of petroleum products as detrimental to business, industries and economic growth and asked the government to revise the decision forthwith.
In a statement, Fazal Moqeem said though the production of oil and gas was surplus in Khyber Pakhtunkhwa, the burden of additional prices was imposed on the province, which was unacceptable.
The SCCI chief said that businesses and industries were suffering owing to government unfriendly policies that had accelerated unemployment and compounded miseries of the business community and general public.
“The increase of oil, gas and electricity prices is tantamount to usurping constitutional rights of the province which is far away from the port city,” he went on to add.
He said that abundant natural resources, including oil, gas and hydel power generation existed in KP which should be tapped efficiently for economic stability and growth and shifted its benefits to business and industries so that people get employment opportunities in their own province.
The SCCI president said that transport fares and the cost of essential food items had also risen after an increase in POL prices, putting further strain on both the business community and ordinary citizens. He urged the government to reconsider its decision in the best interest of the public and the local economy.
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