ICCI calls for withdrawal of hike in prices of daily use items at USC stores.

Islamabad -- Acting President, Islamabad Chamber of Commerce and Industry (ICCI) Saif-ur-Rahman Khan has said that before the implementation of Rs six billion package of subsidy, the Utility Stores Corporation has reportedly given manifold increase in the prices of many daily use items.

In a statement issued on Thursday , he said that daily useage items including ghee, sugar, rice, flour and lentils afre being sold at much higher price at the utility stores that would put additional burden on the common man and stressed that government should immediately withdraw hike in daily use items to save people from further troubles.

He said that that the Consumer Price Index (CPI) based inflation has already increased to12.7 percent which was a record increase in the last 9 years and in these circumstances, increasing prices at USC items would bring more miseries to general public. He stressed that government should focus on reducing the cost of doing business besides evolving a comprehensive price control mechanism. He said that heavy taxation, hike in oil prices and significant increase in electricity and gas tariffs have pushed up the inflation to record level, which should be a cause of concern for the policy makers.

He said that inflation was on...