Reduction in petroleum levy demanded
The Lahore Chamber of Commerce & Industry is urging the Pakistani government to reduce petroleum levies to mitigate the impact of rising global oil prices. They argue that high fuel costs are stifling business competitiveness and increasing inflation for the common citizen.
Why it matters
High energy costs in developing economies like Pakistan directly impact industrial output and consumer purchasing power, creating significant economic strain.
--> Home Business Reduction in petroleum levy demanded LCCI asks govt to establish mechanism to absorb some impact of global oil price changes
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> Reduction in petroleum levy demanded LAHORE: Lahore Chamber of Commerce & Industry President Faheem Ur Rehman Saigol has expressed serious concern over the continuous increase in petroleum prices, saying that expensive fuel is adding to the cost of doing business, increasing transportation costs and putting further pressure on inflation.
He said that petrol prices were placing an additional burden on businesses, industries and the common man. The latest increase has come at a time when businesses are already facing high energy costs, heavy taxation and rising operational expenses.
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