Govt urged to withdraw increase in fuel, electricity rates

LAHORE: Lahore Chamber of Commerce & Industry (LCCI) Executive Committee member and Senior Executive Guard Group Momin Ali Malik has severely criticised the government for repeatedly increasing the fuel and electricity prices and withdrawing sales tax exemption on various inputs being used especially in the agricultural sector.

In a statement issued here the other day, Momin Ali Malik said that time and again increase in the prices of petroleum products and electricity is making our industry incompetitive not only in the domestic market against the imported items but also rendering our export oriented industries incompetitive in the international market.

He said that it has become impossible for the industries and businesses to make some long term planning as they do not know when the prices of fuel or electricity increase making their financial feasibilities impracticable.

Similarly, he said that agriculture which is our backbone and main supplier of raw material for our export-oriented sectors is in dire stress due to non availability of quality seeds especially in cotton sector. It is unfortunate that the government has slapped sales tax on import of quality seed of different crops.

Momin Malik suggested that the government should sit across the table with all the leading chambers and associations to draft some policy measures for easing the situation for businesses and earning enough for development and prosperity of the country and the nation.

Copyright Business Recorder, 2022