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Summary FPCCI has opposed increase in gas, power and petroleum prices, saying it would affect production.
FPCCI President Haji Ghulam Ali said it would directly affect manufacturers already hit hard by continued load shedding of gas and electricity besides weak rupee against dollar. Overall it would reduce the industrial production and lead to cut in export orders, he stated.Meanwhile, Vice President SAARC Chamber of Commerce & Industry Iftikhar Ali Malik said industry already is facing energy crisis and hike in power, gas, petroleum products prices would squeeze liquidity.High power, gas, petroleum prices created liquidity crunch for importers of industrial raw materials.He suggested that keeping in view business scenario around the world, high mark up rate by banks be also reduced to single digit in order to provide relief to the industry.
