RECORDER REPORT

LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) has called for taking trade and industry friendly decisions to put the country’s economy on path to economic recovery.

The LCCI President Malik Tahir Javaid said, here on Friday that all the decisions that have caused blow to economy should be reviewed in the larger interest of the business community.

Citing example of repeated hikes in petroleum product prices and electricity tariff, he said that it would have been better, if caretaker government left these

decisions to the upcoming government.

He said that twice increases in POL prices by the caretaker government have caused blow to the trade & industry as these have increased the cost of doing business that is already on the higher side.

The LCCI President said that business community has never expected something good from Oil & Gas Regulatory Authority (OGRA) as this body has no knowledge about the issues confronted to trade & industry.

He said that industrial input cost has gone up and it has become more difficult for businesses to compete with the other countries in the international market.

He said that business community is unable to understand that why duties and taxes on POL prices are not being reduced. Likewise, he said that rise in power tariff at this critical economic situation is unjustified.

Malik Tahir said that country is already facing big challenges including burden of external debts, stagnant exports and rising imports, unprecedented trade deficit, rupee devaluation, high input cost, huge deficit of Public Sector Enterprises (PSEs), environmental issues, unemployment and above all, external pressure through measures like inclusion in Grey List.

He said the new government would have to face all of these issues; therefore, the caretaker government

should not generate more problems for the new government.

The LCCI Vice President Zeshan Khalil also demanded of the caretaker government to take industry friendly measures in the larger interest of the economy.