LAHORE/SIALKOT: The increase in petroleum, oil and lubricants (POL) prices by the government has attracted strict criticism from the Lahore Chamber of Commerce and Industry (LCCI) and the Sialkot Chamber of Commerce and Industry (SCCI).

Both the chambers rejected the price hike and denounced the move for the ef fects it will have on the wider economy.

SCCI Vice-President Abid Ahmed Khawaja said the price increase will push up the cost of production rendering Pakistani products uncompetitive on the world markets against cheap exports from China, Taiwan and India.

LCCI leadership shared similar concerns, comparing the competitivenessoflocalindustriestothoseinIndia,Bangladesh and Turkey, citing state negligence as the reason for the former`s demise.

The POL price hike will also add to the complexities of the agriculture sector which already suffers from water scarcity and other issues, the LCCI office bearers said.

Pakistan Ready-made Garments Manufacturers and Exporters Association, Pakistan Sports Goods Manufacturers and Exporters Association and Pakistan Gloves Manuf acturers and Exporters Association have also flayed the price hike.LAHORE/SIALKOT: The increase in petroleum, oil and lubricants (POL) prices by the government has attracted strict criticism from the Lahore Chamber of Commerce and Industry (LCCI) and the Sialkot Chamber of Commerce and Industry (SCCI).

Both the chambers rejected the price hike and denounced the move for the ef fects it will have on the wider economy.

SCCI Vice-President Abid Ahmed Khawaja said the price increase will push up the cost of production rendering Pakistani products uncompetitive on the world markets against cheap exports from China, Taiwan and India.

LCCI leadership shared similar concerns, comparing the competitivenessoflocalindustriestothoseinIndia,Bangladesh and Turkey, citing state negligence as the reason for the former`s demise.

The POL price hike will also add to the complexities of the agriculture sector which already suffers from water scarcity and other issues, the LCCI office bearers said.

Pakistan Ready-made Garments Manufacturers and Exporters Association, Pakistan Sports Goods Manufacturers and Exporters Association and Pakistan Gloves Manuf acturers and Exporters Association have also flayed the price hike.