SCCI rejects overnight hike in POL prices

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) President Hasnain Khurshid Ahmad on Friday rejected the overnight increase in prices of petroleum products.

A press release said that he was chairing a meeting of industrialists and traders at the Chamber House. Hasnain Khurshid said that raising the POL prices was beyond comprehension at a time when the prime minister announced a relief package during his address to the nation.

SCCI Senior Vice President Imran Khan Mohmand, Vice President Javed Akhtar and members of the executive committee attended the meeting. The SCCI chief said the government was increasing prices of petroleum products as well electricity and gas at the behest of the International Monetary Fund.

He went on to say that petrol, electricity and gas were lifelines for industries, but consistent increase in prices had enhanced the cost of industrial production that would directly affect the common people in the shape of increased prices of essential items. He said the whopping surge in petrol and diesel prices had stunted economic growth. Hasnain Khurshid noted that the businessmen were faced with enormous difficulties owing to post-Covid-19 scenario, particularly because of the inconsistent government’s economic policies.

The SCCI chief said that an increase of Rs8.3 per litre hike in petrol and Rs8.13 per litre diesel was unjust and should be withdrawn. He asked the government to ensure uninterrupted gas supply to industries and commercial consumers as KP region was surplus in gas production so it had the constitutional right under Article 158-A of the Constitution to fully exploit its natural resources.

The SCCI president demanded a special relief package for traders, who were badly affected by Covid-19 restrictions. He said the business community would stage a protest if the government didn’t withdraw the record hike in the prices of petroleum products.