Pol Products: LCCI urges reversing price hike

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) urged the government on Monday to withdraw the hike in prices of petroleum, oil and lubricants (POL), arguing that the current economic condition does not allow such measures. In a statement, LCCI officials said that the POL price hike would directly and indirectly affect industrial production by increasing the cost of transportation of raw materials and trading of goods, thereby reducing the competitiveness of Pakistani products in the international market. They further said that a POL price increase would also affect the country’s agriculture sector, arguing that the hike in petroleum prices would increase the input cost.

Published in The Express Tribune, January 2nd, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.