PESHAWAR   -   Sarhad Chamber of Commerce and Industry president Fuad Ishaq has termed the rapid increase in fuel, electricity and gas prices a bad news and said it would badly affect the performance of the Khyber Pakhtunkhwa’s industries.

Fuad Ishaq while chairing a meeting of members of the business community, here at the Chamber House on Tuesday, said that Khyber Pakhtunkhwa is self-sufficient in electricity and gas production. Besides, he added the province is also a net exporter of electricity, gas and oil, despite the fact that the burden of price-hike on this province along-with other developed provinces is putting on it, which is completely unfair and unacceptable. 

The SCCI chief demanded of the federal government to immediately withdraw the recent increase in fuel prices, adding as it was sheer unjust to put the burden of larger provinces on the people and economy of Khyber Pakhtunkhwa.

In Khyber Pakhtunkhwa, industries are rapidly descending as a result of government policies, subsequently triggering unemployment in the province, Mr Ishaq said. He warned the current scenario has created great unrest among the people and business community, and it may create law and order situation in the province. Mr Fuad further said there could not be ruled out a locational disadvantage of Khyber Pakhtunkhwa as it is far away from port city.

The SCCI chief described increase of electricity, gas and petroleum commodities’ prices as usurping the rights of smaller federating units. Khyber Pakhtunkhwa has been blessed with abundant natural resources, wherein oil, gas, electricity along with mineral deposits were available in surplus, he said.

He called to take benefits from these natural reserves and its benefits should be given to industries and businesses so that people won’t go to other provinces for earning livelihood for their families and they can get jobs and do business in this province.

The SCCI president further said that petrol, gas, and electricity uses as a raw material in industries when their prices went up so that have also increased cost of industrial production, resultantly increasing prices of daily use items that is affecting common man miserably and business community also in great trouble. He warned if the government won’t realize these things instantly then the country would go towards chaos and the situation couldn’t be controllable.