PESHAWAR:Industrialists welcomed the recent unprecedented reduction in fuel prices, describing that the government’s decision will give a boost to industrial and trade activities and lead the country’s national economy toward stabilization and sustainable growth.
Ayub Zakori, president of the Industrialists Association Peshawar while addressing members during a meeting held at IAP office on Tuesday said electricity, gas and fuel are used as raw materials for industries, and their prices gradually increased during the last year.
Resultantly, he said the cost of industrial production also increased exponentially, which has caused a spiralling ‘price-hike’.
However, he expressed hope that the industrial process will be accelerated after massive reductions in fuel prices made by the government.
Ayub Zakori said industrialization will lead the country toward sustainable economic growth and enhance exports.
The IAP chief demanded that the government to reduce the prices of electricity and gas and ensure the implementation of business-friendly policies at every level to promote industries and business activities to stabilize the economy.
He urged the government to take pragmatic steps to resolve industrialists’ issues and create a favourable environment to attract investment in Khyber Pakhtunkhwa.
Ayub Zakori said that the business community and industrialists association should be consulted before formulation of policies to not create any hurdles in their enforcement.
He vowed IAP would continue playing its role in the protection of industrialists’ rights and interests and provide all facilities and incentives through government at central and provincial level.
He also reaffirmed his commitment that IAP will continue to cooperate with the government and relevant authorities.