FPCCI says high production cost due to enhanced petroleum, gas, power prices eventually cut exports

Lahore: President Federation of Pakistan Chamber of Commerce & Industry FPCCI Senator Haji Ghulam Ali says high cost of production due to abrupt increased petroleum, gas, power prices will eventually lead to cut in export orders, further affect industries, especially manufacturing, already hard hit by high input costs including prolonged gas, power load shedding, weak Pak rupee against US dollar.

“All this would hamper country’s industrial production in the country,” FPCCI President stated. Vice President SAARC Chamber of Commerce & Industry Iftikhar Ali Malik said industry facing severe energy crisis. Rise in tariff for electricity, petroleum, gas products has created severe liquidity crunch for importers of industrial raw material. Keeping in view world’s business scenario, high mark up rate by banks be reduced to single digit to provide relief to hard hit industry. He warned national economy would suffer further if immediate corrective measures were not taken.

Senior Vice President Lahore Chamber of Commerce & Industry Meher Kashif Younus, VP Saeeda Nazar, executive members Aftab Ahmad Vohra & Mian Waqar Ahmad said increased fuel, gas, prices will further burden industrial sector by increasing cost of doing business.

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