Muhammad Kamran Arbi, President of SITE Association of Industry, has declared the recent increase in POL prices tragic for the industry & economy as a whole and has appealed the Prime Minister Mian Muhammad Shehbaz Sharif to take necessary measures to curtail increase in POL products every fortnight otherwise, it will become more difficult to run factories due to constantly rising cost of production.
In an appeal, Kamran Arbi added that since past three months, the POL prices are being revised upward frequently which is adding to the already high cost of living. It will put extra financial burden on masses who are already hard pressed due to inflation.
It will also directly impact cost of doing business and increase in cost of production.
He said that Increase in the utilities prices again & again are already impeding industrial activities to a great extent, and coupled with current increase in POL prices which is bound to stop the wheels of industry. This will ultimately result in decline in exports and mass unemployment.
SAI president stressed the need to formulate policies in consultation with stakeholders and avoid taking any step having negative impact on the industries, trade and national economy as a whole.
