LCCI flays caretakers over POL prices

Our Special Correspondent


President, Lasbela Chamber of Commerce and Industry (LCCI), Yakoob Karim has condemned the massive rise in POL prices by the caretaker government without having any terms of reference (TOR). He said that the Oil and Gas Regulatory Authority (Ogra) is turning a blind eye to the economy. “This body is not concerned about the economy, trade and industry,” he said adding that it continuously takes decisions against business interests,” he said. The caretaker government should realise that the economy is already in a poor shape. The price hike without consulting stakeholders is a matter of huge concern. While appealing the Chief Justice of Pakistan, Yakoob said that apex court should take immediate notice of the high handedness of OGRA for making anti-nation and economy measures. He said economic indicators were showing a gloomy picture. “No sector would be left unaffected if the government doesn’t withdraw the huge hike in prices. It is a basic raw material and a must to keep the wheel of trade and industry moving,” he said. He advised the government to cut down non-development expenditures instead of increasing petrol prices.

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