PESHAWAR: Sarhad Chamber of Commerce and Industry president Fuad Ishaq expressed grave concern over the recent unprecedented hike in gas prices by the incumbent interim government.
The SCCI chief stated another excessive increase in natural gas tariff is an organized strategy to bring the country’ economy to the brink of complete destruction and closure of industries and business and demand for its immediate withdrawal.
In a statement issued here on Friday, the SCCI chief said the unprecedented hike in gas tariff would adversely affect the industry, commercial sectors along with business, trade and industrial growth.
He said the gas price increase was completely unjust to the country’ economy and poor people.
On the other hand, Fuad Ishaq also expressed anguish over further increase in fuel prices, saying that gas, electricity and fuel, which were using a raw material in industries and frequent increase in their prices would jack up cost of industrial products and further increase price-hike, which could directly affect the poor masses and economy also negatively impacted.
The chamber president called the interim government move is miserable for country business, trade and industries, which should be reviewed immediately, what, he said, owing to impermanent economic policies, the business community has already faced enormous challenges and difficulties.
Fuad Ishaq said the fortnight increase in fuel prices and gradual hike in gas tariff policy is elevating the public economic owes.
Similarly, he said transportation charges will be increased owing to a consistent hike in fuel prices that could push up prices of essential food items and would hit the inflation-stricken people.
The SCCI chief voiced concern over low gas pressure to industries, commercial and domestic, saying that KP is surplus in gas production and this province has the constitutional right to fully utilize its natural resources.
He urged the government to cut down electricity, gas and fuel prices to bring economic stability by flourishing business, trade and industries.
