HCCI President Adeel Siddiqui slams government's inept economic policies.

Byline: GM Chandio

HYDERABAD -- The President of the Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has expressed concern over the increase in bank markup under the IMF's orders and said that government had increased tariffs of gas, petrol and electricity in order to appease IMF for meeting the lender's conditions.

In a statement issued on Wednesday, he said that this would increase cost of production when recession was being observed in international markets. He also said that Pakistani exporters are already facing a plethora of serious challenges. He also said that Pakistanis are also already facing a tsunami of price hikes.

The HCCI Chief maintained that staff level agreement with IMF is already delayed and it appeared that government's efforts have gown down the drain. He said that even after meeting conditions IMF the lender remained dissatisfied and assurances by friendly countries were also of no help.

Mr. Adeel Siddiqui said that Pakistan's industrial sector has collapsed as...