PESHAWAR: Business community in Khyber Pakhtunkhwa here on Sunday rejected the unprecedented increase rates of petroleum products and frequent hikes in electricity and gas tariffs and urged the government to revise its decision, immediately.
Traders have noted that the persistent increase in prices of electricity, gas and petroleum products has slowed down industrial, trade and economic activities. They feared that the cost of industrial productivity would further escalate that can directly hit the poverty-stricken masses and also bring negative impacts on the local economy.
Imran Khan, acting president of Sarhad Chamber of Commerce and Industry (SCCI), criticized the government's inconsistent economic policies that are multiplying miseries of Covid-hit business community. He demanded the government to announce a special fiscal relief package for small traders and industrialists to revitalize businesses and trade activities in a normal way.
He said the recent historic increase in rates of petroleum commodities was tantamount to further aggravating the situations. He said the hike of petrol price of Rs10.49 per litre is completely unfair and unacceptable, which should be withdrawn immediately. The increase after 15 days in petrol prices was adding to miseries of the business community and common man, he said.
Talking about the government's decision to suspend gas supply to the industrial and CNG sector during the winter season, Imran Khan said that it would be completely unjust with Khyber Pakhtunkhwa wherein the natural gas is being obtained in surplus quantity.
He opined that the province has the first right to fully exploit its natural resources under article 158-A of the constitution of Pakistan. He said depriving the province of its rights would be an open violation of the above mentioned article of the constitution.
The SCCI acting president asked the government to review its decision and ensure uninterrupted electricity and gas supply to industries in the province.
Expressing grave concern over rapid depreciation of Pakistan rupee against US dollar, he said the continuous increase in dollar rate has brought a negative impact on the country's economy, which has also surged up prices of food commodities, and raw materials used in different manufacturing units.
He asked the government to restrain from taking anti-business initiatives and make serious efforts for bringing stability in its economic policies and to gain value of Pakistan rupee against the US dollar.
Copyright Business Recorder, 2021
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