KARACHI: Acting President of Korangi Association of Trade and Industry (KATI), Farrukh Qandhari has expressed concern over the rising inflation rate in the country reaching 20% and a further increase in electricity tariff by the government. He said that other survey reports including the Pakistan Bureau of Statistics (PBS) have revealed that Pakistan is the most expensive country in the region. Such news is a matter of concern for the government. On the other hand, the government is increasing the price of electricity day by day, which has increased the production cost to a dangerous level. After which the industrialists will have no choice but to close down the industry and transfer their capital abroad or to other cities.
Acting President KATI said that rising inflation has made life miserable for the common man which could not only worsen the law and order situation but also increase the pressure on the economy. He said that the industrialists were already convincing the government that it was necessary to take timely action otherwise economic stability was not possible.
Farrukh Qandhari appealed to the government to take concrete steps to control inflation and reduce production costs, to restore the confidence of local investors and industrialists, including foreign investors.
