FPCCI rejects fresh hike in POL prices

Islamabad: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday rejected the sharp increase in the price of petroleum products terming it a wrong decision which hit the economy and masses reeling under multiple problems.

The government recently revised prices of gas and electricity and now the price of petroleum products has been increased under pressure from the IMF which cannot be accepted, said president FPCCI Ghazanfar Bilour.

In a statement issued here today, he said that business community will never allow the government to damage the economy and make the life of people miserable to please international lenders.

He said that life of the dispossessed is being made difficult through frequent revisions in petroleum prices while containing theft of energy remained low of the government’s agenda. Inexperienced economic managers are bent upon sacrificing voiceless masses which is unfortunate, he said, adding that IMF or the government are not concerned about the development of the country otherwise they would have shifted some burden on nobility, he added.

Ghazanfar Bilour said that those who had claimed to transform Pakistan into a welfare state have disappointed masses as well as the business community through their performance. The FPCCI will not allow the government to shift the entire burden on the masses who are not responsible for the financial problems of the government.

The actions of the government has left much to be desired, they have no control over critical matters, and their energy policy has failed while economic managers are committing one blunder after another.

He noted that the benefit of foreign or local loans have never benefited masses or country but helped the privileged class and the funds raised from the recent steps would also be misused. FPCCI will not play the role of silent spectator in the current situation, therefore, the government should realize their mistake and reverse the decision, he warned.