Sialkot Chamber of Commerce and Industry (SCCI) has strongly criticised and rejected recent increase in POL prices by Ogra, urging the government to ensure early withdrawal of the decision in the large interest of business community.
Talking to newsmen here, SCCI President, Ghulam Mustafa Chaudhary said that the increase in petroleum prices would add to rising inflation and cost of industrial production that is already under pressure because of higher electricity and gas charges. The only beneficiaries are oil marketing companies whose profit margins would increase by making the lives of general public miserable. This is being done at the cost of business, trade and people, he added.
He feared that not only the transportation cost of goods would increase but fares of public transport would also increase manifold due to the move. The increase is detrimental for business and industry as production price would go up and exports would suffer badly, he maintained.
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