Business leaders fear closure of pc industrial units due to surging costs . Increase will fuel the existing inflationary pressures and raise the costs of living and manufacturing . Karachi Chamber of Commerce and Industry KCCI President Mohammed Tariq Yousuf said the fresh hike in fuel prices will further intensify the hardships of consumers .
Pakistan Business Council PBC CEO Ehsan Malik said it is unrealistic to expect a temporary government to address the immediate challenges of inflation devaluation lettersofcredit opening utility tariffs etc. He said the country has been living beyond its means while relying on handouts and debt to fund imports high government expenditure mounting losses of stateowned enterprises and distribution losses in the energy sector .
Site Association of Industry President Riazuddin said the caretaker governments mandate does not allow it to take the reform route or carry out structural changes during its short stint . He said there is a need to stabilise the rupee below reduce the policy rate to pc and impose a full or at least partial ban on luxury nonproductive nonproductive and nonessential imports.
He also called for reducing the tax burden on industry while bringing agricultural income real estate real estate and trade under the tax net. He urged the government to reduce the tax burdens to industry while reducing its tax burdens on industry . He also urged the Government to prioritise the implementation of renewable energy initiatives.
There is also a need for a full and a full . The International Monetary Fund programme. The Pisciscrimnialialial . He added that the Piscrimns and trade. It can offer Pakistan’s need to provide an opportunity to reduce. The Government’ll offer an opportunity for an opportunity.
It should offer Pakistan the hope for an alternative to the tax.
