FPCCI hails withdrawal of increase in petroleum products prices

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), on Friday hailing the decision of the Prime Minister for immediate withdrawal of recent increase in petroleum products prices demanded forthwith restoration of power and gas supply to the industrial sector to save the economy from irreparable loss.
President FPCCI, Senator Ghulam Ali said although it was a wise decision of the Prime Minister for reversing the increase in prices of petroleum products throughout the country but unscheduled gas and power loadshedding, without taking FPCCI into confidence, had already harmed the industry and it had now become impossible to meet the export targets by ensuring timely despatch of consignments to their destinations.
He said power and gas loadshedding had already affected the industrial sector badly causing billion of rupees loss to the private sector. He said the world over, in case of acute shortage of gas and power, always industrial sector was given priority over domestic consumers.
He expressed concern over what he said deteriorating law and order in the country, which was adversely affecting the national economy. Vice-President Saarc Chamber of Commerce and Industry, founder President Pak-US Business Council, former federation chief and veteran trade leader Iftikhar Ali Malik said that in the prevailing scenario world-wide, the survival of any country or state only depends on sound economy which, he observed, is only possible through peaceful atmosphere, better law and order and business friendly environment in the country.
In the present situation, he claimed, no foreign investor is willing to investment in Pakistan. He said Pakistan can never afford the situation which it faced last week. Economic growth and foreign investment is only possible when overall law and order situation in the country is satisfactory, he added. Iftikhar Ali Malik said although our forum is apolitical, however, all political parties must accord top priority to peaceful atmosphere in the country, which is pre-requisite for sustainable economic growth for the survival of the country and promotion of democracy.