PESHAWAR: Sarhad Chamber of Commerce and Industry president Fuad Ishaq ha urged the government to withdraw the recent hike in petrol price by Rs. 13.55 per litre, terming it detrimental to the country’s economy.
In a statement issued here on Friday, the SCCI chief said the government made an increase in petrol Rs13.55 per litre, which would affect business, trade and industrial progress in the country.
The chamber president said fuel, electricity and gas were used as raw material for industries and with frequent increase in these would increase the cost of industrial production, consequently, all segments of the society would be hit hard and impact negatively on the country’s economy.
Fuad Ishaq went on to say that business and trade activities have already slowed down owing to inconsistent and impermanent policies.
He added that the current increase in fuel, electricity and gas prices will bring the businesses to a standstill situations. The SCCI chief said the policy to increase fuel prices after a fortnight along with a hike in electricity and gas tariffs would further add to the miseries of the business community and poor people.
On the occasion, Fuad Ishaq expressed concern over supply of gas at low pressure to industrial, commercial and domestic consumers, stating that Khyber Pakhtunkhwa is surplus in gas production despite that the gas was unavailable to consumers in the province. He went on to say that KP has the first right to fully take benefits from its indigenous natural resources as per Article 158 of the constitution of the country.
Therefore, the SCCI chief urged the government, in the greater interest of the country’s progress, prosperity and economic stability, to take back the decision of the recent whopping hike in fuel prices and ensure uninterrupted electricity and gas supply to industries. –Agencies
