LAHORE: The Lahore Chamber of commerce and industry Wednesday welcomed another cut in petroleum prices and said that it would help bring down cost of doing business in Pakistan.
In a press statement issued here Monday, LCCI President Ijaz A. Mumtaz said that repeated cuts in petroleum prices shows present regime’s seriousness in putting the economy back on rail.
He said that reduction in POL prices would certainly bring down the cost of doing business and Pakistani products would get their due share in the international market.
Ijaz A. Mumtaz said that recent decision would not only give breathing space to the industrial sector but would also help agriculture sector prosper.
“Pakistan agriculture sector is engine of growth. The decrease in petroleum prices would bring down the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery.
He urged the government to bring down the electricity prices as well as government is producing huge amount of electricity through thermal means and after cut in petroleum prices, prices of electricity would should be at lowest.
Ijaz A. Mumtaz said that at a time when the whole industry was suffering due to energy crisis and high cost of doing business, massive cut in petroleum prices, whole scenario would take a positive change.
