Electricity, oil prices hike cause of inflation: SAARC CCI

MG News | December 13, 2021 at 09:30 AM GMT+05:00

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December 13, 2021: The business community on Sunday expressed their concern over spiraling electricity and oil prices, which were the main cause of inflation and reduction in economic growth, as reported by APP.

President SAARC Chambers and Chairman United Business Group (UBG) Iftikhar Ali Malik told a delegation, led by presidential candidate for Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Dr. Nouman Idris Butt, that gradual hike in electricity and oil prices would affect the supply of other goods. He said that ultimately manufacturers would increase the price of goods and services due to spiraling oil prices.

He urged the government to arrest the price increase trend of electricity and petroleum products.

Iftikhar Malik said the common man was also suffering a lot because commodity prices were shooting up due to an increase in input costs.

APP

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