ISLAMABAD: Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce and Industry (ICCI) said that the government has made massive hike of Rs.60 per litre in the prices of petroleum products within a week. In a statement Friday, he said the hike is the unprecedented increase and termed it a very harsh decision that would unleash a new wave of high inflation and cause great increase in the cost of doing business. He said the decision would badly squeeze the purchasing power of common man leading to a sharp decline in the growth of business activities. He said that the government has also hiked electricity price by Rs.8/unit that would give rise to production cost and further push up inflation. DNA
