FPCCI appreciates Govt’s decision to slash petrol price

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ISLAMABAD, Mar 3: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Abdul Rauf Alam has appreciated the decision of the government to slash petrol prices by Rs.8.48 per liter.

In a statement issued here, he said that this decision would significantly improve the business activities across the country. The FPCCI President further said that this step has improved the competitiveness position of the country in the region in terms of oil prices.

He also stressed the need for taking several other measures to improve overall business rating in Pakistan. Rauf Alam also appreciated the government decision of reduction of Rs.4.11 per unit in electricity tariff for all public sector distribution companies.
However, he urged the government for implementation of the same decision on K-Electric and consumers using below 300 units. He said that K-Electric is one of the biggest electric distribution companies and also supplying electricity to major industrial estates in Karachi like SITE, Korangi Industrial Area, Landhi Industrial States, Export Processing Zone, and in the surrounding areas like Nooriabad Industrial States etc.

He said that Karachi is the hub of trade and industry in Pakistan and the industries and business enterprises in Karachi would be deprived of recent reduction in electricity tariff by electricity supplying companies other than K-Electric.Rauf Alam further indicated that overall improvement in business competitiveness and doing ease of business indicators is the outcome of economic policies, socio political condition and provision of level playing field to business sector on account of tax rates, cost of overheads, provision of physical infrastructure, monetary policy and facilitation by the public sector institutions.

Source: APP