ICCI demands action against inflation

Rising inflation greatly affects economic growth and all segments of society.

ISLAMABAD: Rising inflation has greatly affected the country’s economic growth and all segments of the society.

Therefore, immediate action and concrete measures are required by the government to arrest inflation which currently stands at more than 20 per cent.

This was stated by Mahfooz Elahi, the President of the Islamabad Chamber of Commerce and Industry (ICCI) while addressing a meeting of the representatives of the business community.

He said that inflation has created multiple problems and this phenomenon seems going out of the control.

He emphasized that controlling it must be a top priority and said that gradual increase in electricity, gas and petroleum products tariffs are putting tremendous inflationary pressure on the general public.

The ICCI strongly demanded that the Supreme Court of Pakistan take a very serious note of and action against rising inflation, whereas the parliament should deliberate on this issue on a regular basis until a viable solution is found.

Published in The Express Tribune, October 15^th, 2010.