DLP Report
PESHAWAR
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Vice President for Khyber Pakhtunkhwa Aun Ali Syed has expressed strong concern over the government’s one-time increase of Rs55 per litre in petroleum prices, warning that the move will have serious implications for businesses and the national economy.
In a statement issued here, Mr Syed, representing the business, industrial and commercial community, said the sharp increase in fuel prices had come at a time when businesses were already grappling with high production costs, declining purchasing power and slow economic activity.
He said petroleum products played a key role in driving economic activity and had a direct impact on transport, logistics, industry, agriculture and supply chains across the country.
“The sudden and substantial increase will trigger a new wave of inflation, pushing up the prices of essential goods and services,” he said.
Mr Syed added that the business community feared the hike would significantly raise the cost of doing business, making Pakistani products less competitive in both local and international markets.
He said small and medium enterprises (SMEs), already operating on thin profit margins, would be particularly affected by the decision.
According to him, rising fuel prices would increase transport fares, power generation costs and production expenses, which would ultimately be passed on to consumers and further weaken market demand.
He warned that such policy measures could slow the pace of industrial growth and discourage investment at a time when the country urgently needed strong economic momentum.
Mr Syed urged the government to review and reassess the recent increase in petroleum prices, taking into account the prevailing economic situation and the challenges faced by the business community and the public.
He also stressed the need for consultation with key economic stakeholders, including the FPCCI and representatives of the business community, before taking decisions that directly affect the national economy and industrial production.
The FPCCI vice president reiterated that the federation was ready to work closely with the government in formulating balanced policies aimed at ensuring economic stability while protecting the interests of both businesses and consumers.
