PESHAWAR: Sarhad Chamber of Commerce and Industry president Fazal Mogeem Khan has termed recent increase in prices of petroleum products detrimental for business, industries and economic growth.

He asked government to revise the decision forthwith. He said that production of oil and gas was surplus in Khyber Pakhtunkhwa but burden of additional prices was put on the province, which was unjust, according to a statement.

The SCCI chief said that businesses andindustries were reeling owing to government unfriendly policies that accelerated unemployment and compounded miseries of traders and people.

He said that Khyber Pakhtunkhwa was far away from the port city, while increase in prices of oil, gas and electricity was tantamount to usurping constitutional rights of the province.

He said that abundant natural resources including oil, gas and hydel power generation existed in KP that should be tappedefficiently for economic stability and growth and the benefits should be shifted to businesses and industries so that people won`t go to other provinces for jobs and get employment opportunities in their own province.

The SCCI president said that petrol, electricity and gas were used as raw material in industries and increase in their prices, not only pushed up cost of production but also surged the transport fares and prices of essential food items that was directly affecting people and traders. Bureau Report