Peshawar - The business community of Khyber Pakhtunkhwa has reacted to the recent hike in petrol price and asked the government to revise its decision and bring down fuel prices in line with the international market.
The traders’ community members said that the incumbent coalition government is completely directionless and is putting the national economy at stake at the behest of international financial lenders and jacking up fuel prices on their dictations. The business community expressed their concern that the cost of doing business would be further increased after a frequent hike in fuel prices and the already sluggish industrial growth would become a complete standstill in the country.
A new wave of inflation would come after the further hike in fuel prices, said Imran Khan, Acting president of Sarhad Chamber of Commerce and Industry (SCCI), according to a statement issued here on Wednesday. He viewed that the incumbent government’s flawed economic policies brought negative impacts on the economy while spiralling price-hike also elevated the miseries of poor masses.
Imran Mohmand criticized the ‘double-standard’ policy adopted by the incumbent coalition government as completely incomprehensible, as the govt is making tall claims about taking practical steps for provision of relief to poor masses while on the other hand, multiplying their miseries by unjustly increasing fuel prices, he added. “We completely reject the recent fuel price hike of Rs6.7 per/litre,” he said.
The acting chief observed fuel prices are consistently downward in the global market, while oil prices frequently escalate instead of decreasing in line with the international market, which is unjustifiable and reflects the present government’s anti-masses policies, he maintained. He also criticized the inconsistent policies of the government that brought the country’s economy to the brink of destruction.
He termed incessant drop in the country’s export, foreign exchange reserves, surging circular debts, and putting the national economy on dictation of foreigners for obtaining loans from lenders, as a testimony of the present government’s flawed economic policies.
The acting chief stressed the need to enhance exports and efficiently tap indigenous resources, and natural reserves to stabilize the national economy. He urged the government to review its economic policies in the interest of businesses, the economy and the country. He demanded the government announce a special relief package for small traders and shopkeepers.
The acting SCCI chief warned if the government wouldn’t restrain from putting the national economy at stake at the behest of foreign lenders and not bring down fuel prices in line with the international market then the Chamber along with the trader community will lodge a strong protest.
The traders’ community members said that the incumbent coalition government is completely directionless and is putting the national economy at stake at the behest of international financial lenders and jacking up fuel prices on their dictations. The business community expressed their concern that the cost of doing business would be further increased after a frequent hike in fuel prices and the already sluggish industrial growth would become a complete standstill in the country.
A new wave of inflation would come after the further hike in fuel prices, said Imran Khan, Acting president of Sarhad Chamber of Commerce and Industry (SCCI), according to a statement issued here on Wednesday. He viewed that the incumbent government’s flawed economic policies brought negative impacts on the economy while spiralling price-hike also elevated the miseries of poor masses.
Imran Mohmand criticized the ‘double-standard’ policy adopted by the incumbent coalition government as completely incomprehensible, as the govt is making tall claims about taking practical steps for provision of relief to poor masses while on the other hand, multiplying their miseries by unjustly increasing fuel prices, he added. “We completely reject the recent fuel price hike of Rs6.7 per/litre,” he said.
The acting chief observed fuel prices are consistently downward in the global market, while oil prices frequently escalate instead of decreasing in line with the international market, which is unjustifiable and reflects the present government’s anti-masses policies, he maintained. He also criticized the inconsistent policies of the government that brought the country’s economy to the brink of destruction.
He termed incessant drop in the country’s export, foreign exchange reserves, surging circular debts, and putting the national economy on dictation of foreigners for obtaining loans from lenders, as a testimony of the present government’s flawed economic policies.
The acting chief stressed the need to enhance exports and efficiently tap indigenous resources, and natural reserves to stabilize the national economy. He urged the government to review its economic policies in the interest of businesses, the economy and the country. He demanded the government announce a special relief package for small traders and shopkeepers.
The acting SCCI chief warned if the government wouldn’t restrain from putting the national economy at stake at the behest of foreign lenders and not bring down fuel prices in line with the international market then the Chamber along with the trader community will lodge a strong protest.