KARACHI: The President, Lasbela Chamber of Commerce and Industry (LCCI) and industry, Yakoob Karim has expressed serious concerns over ever increasing prices of utilities and other industrial inputs due to which industrial sector particularly export-oriented manufacturing units are suffering badly. In a statement he said that the new government that had too much trumpeted in changes of policies to provide relief to the industry and the masses but it seems that the new government too has running the county on the same lines of previous regimes that has brought the economy on the verge of collapse.
Yakoob has said that most of the decisions taken so far regarding economy seemed as a self-defeat of the new government and against the vision of Prime Minister Imran Khan.
While endorsing the views of trade bodies and apex chamber he said that the prime minister had been assuring the businesses of ‘ease of doing business,’ for promoting industrialisation in the country. But unfortunately, the price hike of gas and electricity negated his commitments.
Opposing the 2pc-hike in per unit price of electricity and a steep rise in gas tariff would increase the production cost and, as a result, Pakistani products would not be able to compete on the world markets.
He said that exporters too are much concerned over the unfavourable stance towards economy said that Pakistani products are already uncompetitive in the world market and this fresh hike in fuel prices would prove to be the last straw on the camel’s back.
He further said that the manufacturing concerns and export-oriented industries would be the main victims of this decision as they have to compete with products of regional countries in the international market. He reminded of the commitment made by the Finance Minister, Asad Umar who claimed that POL prices would be brought down to about Rs45 per litre soon after he takes over but as a matter of fact he just made a gimmick to the nation.