Reduction in Fuel Prices Will Lower Business Costs, Transportation Expenses, and Inflationary Pressure: FPCCI President
Congratulations to the Prime Minister, Field Marshal, and Pakistani Leadership for Their Historic Role in the Islamabad Peace Agreement, Says Statement
Islamabad (Special Correspondent) – FPCCI President Atif Ikram Sheikh has strongly welcomed the Prime Minister’s announcement of a reduction of Rs. 74 per liter in petrol prices and Rs. 67 per liter in high-speed diesel prices, stating that this decision will have highly positive and far-reaching effects not only for the public but also for all sectors of the economy, including industry, trade, agriculture, and transportation.
In a statement issued on Friday, he said that passing on the benefits of the decline in global petroleum prices to the Pakistani public and business community is a wise decision by the government. He noted that the substantial reduction in fuel prices will lower the cost of transporting essential goods, freight charges, production costs, and overall business expenses, helping to control inflation and accelerate economic activity.
Atif Ikram Sheikh said that following the reduction in petroleum product prices, the government should now focus on further reforms in the energy sector. He demanded a significant reduction in electricity prices for industrial, commercial, and domestic consumers, the removal of additional surcharges and unnecessary financial burdens, and comprehensive reforms in the power sector to bring production costs in line with those of other countries in the region.
He stated that Pakistan’s export industry is currently facing intense regional competition, and in such circumstances, affordable electricity and fuel are essential for enabling domestic industries to compete effectively in global markets. He added that if the government succeeds in further reducing energy prices, it will lead to significant growth in exports, investment, employment, and industrial production.
The FPCCI President also congratulated the Prime Minister of Pakistan and the Field Marshal for playing an important mediating role in the peace agreement between Iran and the United States. He said that Pakistan has once again demonstrated its importance in global diplomacy as a responsible and peace-loving state.
He further stated that this development would not only promote peace and stability in the region but also contribute to stability in global energy markets, with positive effects on the economies of Pakistan and the rest of the world.
Atif Ikram Sheikh said that the business community appreciates the efforts of the Prime Minister and the national leadership toward economic stability, regional peace, and the promotion of investment. He expressed hope that through reforms in the energy, taxation, and business sectors, Pakistan would be placed on a path of sustainable economic growth.