KARACHI: Muhammad Kamran Arbi, President of the SITE Association of Industry has welcomed the mark able reduction in petrol & diesel prices by up to Rs.15/- per litre by the government. He has requested the government to reduce electricity and gas tariff as well so as to take the industries & economy out of prevailing crisis and added that this will definitely have positive impact on the national economy.
In his statement, Kamran Arbi stated that it is laudable move of the government to reduce POL prices in the wake of reduction in international oil prices. It will help in lowering increasing inflation and the common masses will get relief to some extent. However, in order to provide relief to lower class, an effective price control mechanism is required ensuring provision of goods of necessities in government-fixed prices.
He added that production cost of industries is increasing day by day due to increase in power & gas tariff which has made it very difficult to run the industries. The government can provide industry-friendly atmosphere by giving relief to industries and play its role in promoting economic activities in the country. The economic progress is directly linked with industrial progress. As such, running the wheels of industry will only bring prosperity in the country, together with jobs creation and exports promotion.
Kamran Arbi requested the government to also reduce power & gas tariff to bring down cost of production of industries and to make local exporters competitive in the international markets.