PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) President Sherbaz Bilour flayed the government over “unprecedented” raise in POL prices and warned that the business community will protest, if the decision was not taken back.
Sherbaz Bilour while chairing a meeting of small traders and industrialists here at the chamber house on Friday said the recent hike of Rs5 per litre in POL prices is ‘worrisome’, saying that it is unacceptable to the business community.
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SCCI chief noted the country’s economy is already on the brink of complete collapse because of the ‘anti-business’ and ‘flawed’ industrial policies of the PTI government, while the hike in prices of petroleum products, electricity and gas will further deteriorate the situation.
Bilour was the view that the petrol, electricity and gas are major utilities, which are being used as raw material for industrial production and other means, if the escalating trend continue, it will increase the cost of industrial production. He said that it would have trickle down impacts of business community and people from different walk of life, including poor people.
Sherbaz Bilour continued to say that the increase in raise in POL prices and depreciation of Pakistani rupee against dollar will bring a new wave of inflation that will also affect industrial growth and can trigger mass scale unemployment. “Instead of focusing on anti-business policies and actions,” the SCCI chief said. He asked the government to announce a special fiscal relief package for Covid-19 hit small traders and industries. He emphasized the consistency in economic policies for building a sustainable business environment, economic and trade activities.
The chamber president demanded the government to withdraw the decision of increase in prices of petroleum products to avoid the loss to the business community and poor working class. Bilour warned that the business community will take to the streets against the government’s policies.