President of Korangi Association of Trade and Industry (KATI) Salman Aslam has expressed concern over rising inflation and increasing prices of food items in the country, saying that according to other survey reports, it is a matter of concern for the government to be considered as the most expensive country in the region.
Salman Aslam said that medicines, ghee, cooking oil, tomatoes and other essential items have become more expensive.
President KATI said that the government needs to take serious positive steps to stem the tide of inflation so that the living standards of the poor and middle class of the country can be improved.
Salman Aslam said that due to the daily increase in the prices of petroleum products, gas and electricity the cost of production has increased to a dangerous level, after which it is becoming very difficult for the industrialists to run the industry.
He said that due to exorbitant increase in production cost, local industrialists have no other choice but to shift their capital abroad.
President KATI said that rising inflation has made life miserable for the common man which could not only deteriorate the law and order situation but also increase the pressure on the economy. He said that the industrialists were already convincing the government that timely action was essential otherwise economic stability would not be possible.
President KATI said that due to the recent increase in petroleum products, there has also been an increase in means of transportation and logistics of goods.
Salman Aslam appealed to the government to take concrete steps to control inflation and reduce production costs, so as to restore the confidence of local investors and industrialists, including foreign investors.
