The Lahore Chamber of Commerce & Industry (LCCI) has severely criticized OGRA (Oil and Gas Regulatory Authority) for forwarding summary for another hike in POL price and urged Prime Minister Shahid Khaqan Abbasi to reject this proposal that is bound to hit trade, industry, agriculture and masses hard.
The LCCI office bearers; President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khalil in their joint statement on Wednesday said that any increase in POL prices would badly hit the industrial, trade, economic and social activities.
"Government should cut down non-development expenditures instead of dropping petrol bomb on the trade and industry which is already struggling for survival. Industry would not be able to contribute in economic uplift of the country if anti-industry decision is taken", they added.
The LCCI office-bearers said that though oil prices in the international market are on the rise but instead of passing this surge to the trade, industry and masses, government should cut the number of taxes and duties levied on petroleum products. They said that it is not the industrial sector alone but the agriculture sector would also badly suffer.
Pakistan agriculture sector is engine of growth. The increase in petroleum prices would increase the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery, they said. The cost of thermal generation by private sector will go up. The government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new highs, they added. They said that the Lahore Chamber had for the last many years been calling on the concerned government circles to take measures for the promotion of alternate fuels.
Comments
Comments are closed for this article.