By Commerce Reporter
LAHORE: Senior Vice President of the Lahore Chamber of Commerce & Industry (LCCI), Mr. Tanveer Ahmed Sheikh, has welcomed the federal government’s decision to substantially reduce petroleum product prices, describing it as a timely and positive step towards easing inflationary pressures on businesses and the general public.
Read also: LCCI SVP Tanveer Sheikh urges govt to cut fuel prices as global crude hits one-month low
The SVP LCCI noted that the reduction of Rs10.28 per litre in petrol and Rs8.57 per litre in High Speed Diesel (HSD) will help lower transportation and logistics costs, which have remained a major concern for the industrial, trade, and export sectors.
Mr. Sheikh stated that fuel prices directly impact the cost of doing business in Pakistan, influencing freight charges, supply chain efficiency, and consumer prices. “This reduction will provide some breathing space to manufacturers, traders, and exporters who have been struggling with rising input costs,” he said.
He further emphasized that consistent and predictable fuel pricing policies are essential for long-term business planning and economic stability. The business community expects that the benefit of reduced fuel prices will be passed on through lower freight and production costs, ultimately supporting consumer demand.
The SVP LCCI urged the government to continue engaging with stakeholders and to complement such measures with broader economic reforms, including rationalization of energy tariffs, reduction in interest rates, and facilitation of industrial growth, to ensure sustainable economic recovery.
The Lahore Chamber reiterated its commitment to working closely with the government to promote policies that support business competitiveness, investment, and employment generation in Pakistan.
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