PESHAWAR:Sarhad Chamber of Commerce and Industry acting President Ijaz Khan Afridi while rejecting the recent massive increase in fuel prices and feared the government’s moves will prove detrimental to the national economy, businesses, and industrial growth.
In a statement issued here on Wednesday, Ijaz Afridi said the economy, businesses, and industries are reeling owing to the flawed economic policies of the incumbent government. On the other hand, he said the consistent increase in prices of power, gas, and petroleum products has further pushed the country toward economic instability and added to the miseries of the business community.
The SCCI’s acting chief expressed fear that a new wave of inflation will come after the historic increase in fuel prices, resultantly, the move will affect all traders’ communities, poor masses, and different segments of the society.
He continued that the abrupt increase in the price of petroleum commodities is highly unjustifiable and incomprehensible, which is unacceptable to them. He said the cost of living and industrial production would increase after the whopping increase in fuel prices that could further push up prices of essential commodities, which were already out of the purchasing power of the common man.
Ijaz Afridi urged the government to take back its decision and bring down fuel prices in line with the international market, otherwise, he warned SCCI along with the traders’ community will force a protest.