PESHAWAR
\nSarhad Chamber of Commerce and Industry has given a SOS call while keeping in view prevailing economic instability and uncertainty that were driven as result of anti-business and trade policies.
\nHe urged the business community across the country to back the SCCI\u2019s SOS call and also follow the suit to jointly fix the national economy.
\nTalking to different delegations belonging to trading community here at the chamber\u2019s house on Monday, Ishaq criticized that owing to \u2018flawed\u2019 economic policies of the incumbent government, businesses, trade and exports\/imports, coupled with non-opening of Letter of Credits (LCs) by commercial banks had brought negative impacts on economic growth.
\nOn the other hand, the SCCI chief said the rising prices of electricity, gas and petroleum products, essentially hike in policy rate by State Bank of Pakistan with banks margin at 20 per cent has further aggravating the present feeble economic conditions.
\nIshaq noted that the present government had made claims about putting the economy on the right track without consultation with the business community and relevant stakeholders but measures taken for improvement in the economy have yet not yielded any tangible and positive results, even though the economic situation is going from bad to worse with each passing day.
\nFurthermore, he observed industrialists, small traders and shopkeepers are being faced with enormous difficulties because of enforcement of \u2018anti-business\u2019 policies. He added doing business and trade has not only made it difficult but impossible in the prevailing circumstances.
\nThe SCCI chief has foreseen that the government has planned to present a proposed \u2018mini-budget\u2019, worth billions of rupees with heavy taxes.
\nHe predicted that prices of electricity, gas and petroleum would be further increased through the \u2018mini-budget\u2019, which was unaffordable for business, trade, industries and exports of the country.
\nIshaq termed the mini-budget would be an unwise step in the present scenario and urged the government to review its decision in the best interest of the country\u2019s economy, businesses and trade. He attributed the rising dollar rate, petroleum, gas and electricity prices as the main reason behind the current inflation and economic owes.
\nThe chamber president criticized the government for bringing the national economy on the brink of destruction.
\nDespite the depressing economic conditions, he added, the government didn\u2019t consult with the business community to fix the country\u2019s economy. He, furthermore, warned the complete closure of industries, businesses and ending of trade as a result of present anti-business policies.
\nThe SCCI chief made it clear that if the government didn\u2019t review its policies and hold consultation with the business community for fixing the economy, then traders would have no other option but to take harsh and aggressive steps.
\nHe urged the government to review its decision of the unprecedented hike in prices of petroleum products. He also demanded to bring new people in the tax net instead of further burdening the existing taxpayers with fresh taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR Sarhad Chamber of Commerce and Industry has given a SOS call while keeping in view prevailing economic instability and uncertainty that were driven as result of anti-business and trade policies. He urged the business community across the country to back the SCCI\u2019s SOS call and also follow the suit to jointly fix the national […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-310773","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n