MULTAN:President of Multan Chamber of Commerce and Industry (MCCI) Khawaja Muhammad Hussain urged upon government to formulate a comprehensive strategy to reduce the prices of petroleum products and electricity.
In a statement issued here, the MCCI president also called for availability of gas to the industrial sector in order to stabilize the national economy.
He expressed deep concern over the rising prices of petroleum products, increase in electricity tariff and unavailability of gas to the industry. He lamented that an increase of Rs 60 per liter in prices of petroleum products in a week would be a prelude to inflation. In these circumstances, it has become very difficult to keep the industrial unit running and factories are closing down, he alarmed. Due to the rising inflation, the price of raw materials is also increasing. The traders are worried due to an increase of Rs. 24 per unit in electricity tariff from July 2022, which will cause irreparable damage to the industrial sector. Pakistani products will be out of competition in the global markets and instead of increasing, the exports will face a decline. We are well aware of the current government’s constraints however we want comprehensive policies to come out of the crises. The government should take concrete steps to provide employment to people, said Khawaja Muhammad Hussain.