Economic managers pushing country towards Balkanisation

Lahore: The Federation of Pakistan Chambers of Commerce and Industry

(FPCCI) on Tuesday rejected sharp increase in the price of power and petroleum prices terming it a cruel decision which will break the back of masses reeling under inflation.

Government has taken electricity out of the reach of the common man under pressure from the IMF which cannot be accepted as it will push country into an intense political turmoil, said Zubair Ahmed Malik, president FPCCI.

Speaking to the business community, he said that business community will never allow government to make life of man on street miserable to please international lenders.

Life of the dispossessed is being made difficult to raise Rs 175 billion annually but government would not consider containing energy theft worth Rs 25

0, Rs 500 billion corruption in the FBR, unjust tax exemptions to aristocracy worth tens of billion or imposing tax on the massive income of landed elite, he said.

Adopting any of those measures would have culled the crisis but policymakers are bent upon sacrificing voiceless masses which is unfortunate, he observed.

The FPCCI chief said that IMF or government are not concerned about development of the country otherwise they would have shifted some burden on landed nobility which have so far failed to discharge national obligation by paying any tax.

Those who claimed to transform Pakistan into a welfare state and an Asian tiger have disappointed masses as well as the business community through their pathetic performance; we will not allow them to shift entire blame a

nd burden on the masses.

Zubair Ahmed Malik said that the performance of the government has left much to be desired, they have no control over critical matters, and their energy policy has failed while economic managers are committing one blunder after another.

He noted that the benefit of foreign or local loans have never benefited masses or country but the privileged class and the funds raised from the recent steps would also be misused after laying waste to the country.

The business leader said that international oil going down internationally with India slashing prices to a great extent to benefit poor while the same have been revised upward for the fourth time since present government assumed power. .

FPCCI will not play the role of silent spectator in the current situation, he said, adding that the government should realise their mistake to reverse the decision before it has to pay a heavy price for it, warned Zubair.