Monday November 29, 2021

SCCI rejects hike in prices of fuel, power

October 17, 2021

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) on Saturday rejected the increase in the prices of petroleum products and frequent hike in electricity and gas tariffs.

In a statement, SCCI acting president Imran Khan noted that the persistent increase in prices of electricity, gas and petroleum products had slowed down industrial, trade and economic activities.

He said the cost of industrial productivity would further escalate owing to continuous increases that can directly hit the poverty-stricken masses and also bring negative impacts on the local economy.

The SCCI acting chief criticized the government’s inconsistent economic policies were multiplying miseries of pandemic-hit business community.

He demanded the government to announce a special fiscal relief package for small traders and industrialists to revitalize businesses and trade activities.

He added the fresh increase in POL rates would aggravate the situation as so the raise in the prices of petroleum products should be withdrawn forthwith.

The increase in the prices of the POL after 15 days was adding to miseries of the business community and common people, he said.

Talking about the government’s decision to suspend gas supply to the industrial and CNG sector during winter season, Imran Khan said it would be unjust with Khyber Pakhtunkhwa, which produced surplus gas.

He said the province had the first right to exploit its natural resources under Article 158-A, of the Constitution of the country.

He asked the government to review its decision and ensure uninterrupted electricity and gas supply to industries in the province.

Expressing concern over rapid depreciation of Pakistani rupee against dollar, he said the continuous increase in dollar rate has brought negative impacts on the country’s economy, which led to increase in prices of raw material being used in different manufacturing units.

He asked to restrain from taking anti-business initiatives and make efforts to stabilize the economy.