RECORDER REPORT

LAHORE: Terming the increase in POL prices as blackmailing to the trade, industry and masses, the Lahore Chamber of Commerce & Industry (LCCI) declared that this action would prove a blow to the economy.

The LCCI President Malik Tahir Javaid said, here Monday that OGRA knows well that trade, industry and masses cannot run their activities without POL, therefore, it is exploiting this situation by throwing “petrol bomb” again and again that is not acceptable. “The caretaker government has supported a shocking move of OGRA that has least knowledge about the miseries of the business community,” he said, adding: The OGRA doesn’t care about economy, trade and industry.”

Why doesn’t OGRA suggest the government to reduce duties and taxes on petroleum products besides cutting non-development expenditures of the state”, he questioned? He said that economic indicators are showing a concerning picture. No sector would be left unaffected if the government did not withdraw hike in POL prices, he added.

The LCCI Vice President Zeshan Khalil said that the cost of thermal power generation by private sector to go up. The government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new heights, he opined.