PIBF Demands Immediate Reduction in Fuel, Electricity Prices, Rejects ‘Smart Lockdown’

By Dr Ansab Ali
Lahore, Pakistan

LAHORE: The Pak International Business Forum (PIBF) has rejected the proposed “smart lockdown” measures being considered by the government to conserve fuel and ease economic pressures, arguing that restrictions on business activity cannot provide a sustainable solution to the country’s economic challenges.

PIBF Central President Dr Mushtaq Mangat and Secretary General Muhammad Ejaz Tanveer said the business community’s primary demand was an immediate and substantial reduction in the prices of petrol, diesel and electricity, stressing that economic activity could not be revived without lowering energy and transportation costs.

They said high fuel and electricity prices had significantly increased the cost of production, transportation and doing business, while also disrupting supply chains and adding to inflationary pressures on consumers.

“The government cannot accelerate economic activity by restricting economic activity. The real solution is to reduce the cost of doing business, particularly fuel and electricity prices,” the PIBF leadership said.

Dr Mushtaq Mangat called for an immediate reduction in the petroleum levy and other charges contributing to high fuel prices. He also urged the government to rationalise electricity tariffs to provide relief to industry, traders and consumers.

Muhammad Ejaz Tanveer said a smart lockdown could lead to reduced commercial activity, lower business turnover and further disruption to supply chains without addressing the underlying causes of rising costs.

He said the government should instead focus on providing cheaper energy, reducing transportation costs and promoting greater economic activity rather than imposing restrictions on businesses.

The PIBF leadership also expressed support for Jamaat-e-Islami’s long march against the petroleum levy, saying the demand for a reduction in petroleum taxation reflected concerns raised by sections of the business community.

The PIBF urged the government to immediately reduce the petroleum levy, lower petrol and diesel prices and rationalise electricity tariffs to support industry and trade, ease inflationary pressures and strengthen supply chains.