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Rise in POL prices – a blow to trade and industry

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LCCI is reconsidering the decisions that have caused an adverse impact on Pakistan economy. Mr Malik Tahir Javaid, LCCI President said that decisions will be reviewed in the larger interest of business to put Pakistan’s economy on the path of recovery.

He said that increased POL prices by the caretaker government has increased the cost of doing business resulting in a major blow to the trade and industry. He further added that it is becoming difficult for our industry to compete with other countries in the international trade market because of the high industrial input cost. He said that the business community is unable to comprehend the increased duties and taxes on POL prices and why are they not being reduce as well as the rise in power tariff.

Mr Malik Tahir said that Pakistan is already facing big challenges like inclusion in grey list, unemployment, trade deficit, stagnant exports and rising imports, debts, etc. so the caretaker government should take industry friendly measures and not generate more problems for the new government.