Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry (ICCI) said that the the prices of consumer goods have further increased in December due to which the inflation has gone up to 12.3 per cent recording the largest increase in nearly two years, which should be a cause of concern for the policymakers. He said that in December the prices of many food items including cooking oil, fruits, gram whole, gram flour, milk, mustard oil, vegetable ghee, fish, rice and pulses have increased that would put more pressure on the common man.
He called upon the government to take urgent measures for controlling the inflation as the rising inflation was squeezing the purchasing power of consumers that would cause further slump in the business activities and affect the growth of the economy. He said this while talking to Tariq Ali Khan, Managing Director, Dogar Publishers and Anwar Sohail Khan during their visit to ICCI.
Muhammad ShakeelMunir said that the government has proposed to withdraw tax exemptions of Rs.343 billion in the mini-budget and if it was passed by the parliament, it would give further rise to the inflation as it would increase tax on hundreds of items.
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