LAHORE/SIALKOT: The increase in petroleum, oil and lubricants (POL) prices by the government has attracted strict criticism from the Lahore Chamber of Commerce and Industry (LCCI) and the Sialkot Chamber of Commerce and Industry (SCCI).

Both the chambers rejected the price hike and denounced the move for the effects it will have on the wider economy.

SCCI Vice-President Abid Ahmed Khawaja said the price increase will push up the cost of production rendering Pakistani products uncompetitive on the world markets against cheap exports from China, Taiwan and India.

LCCI leadership shared similar concerns, comparing the competitiveness of local industries to those in India, Bangladesh and Turkey, citing state negligence as the reason for the former’s demise.

The POL price hike will also add to the complexities of the agriculture sector which already suffers from water scarcity and other issues, the LCCI office bearers said.

Pakistan Ready-made Garments Manufacturers and Exporters Association, Pakistan Sports Goods Manufacturers and Exporters Association and Pakistan Gloves Manufacturers and Exporters Association have also flayed the price hike.

Published in Dawn, January 2nd, 2018