ICCI urged government to evolve mechanism to control prices.

ISLAMABAD -- Islamabad Chamber of Commerce and Industry (ICCI) on Thursday urged the government to take steps for reducing the cost of doing business besides evolving a comprehensive price control mechanism to save common man from price hike.

ICCI Acting President Saif ur Rahman Khan, in a statement said that before the implementation of government's Rs.6 billion package of subsidy, the Utility Stores Corporation has reportedly given substantial increase in the prices of many daily use items including ghee, sugar, rice, flour and lentils, which should be withdrawn.

Khan said that that the Consumer Price Index (CPI) based inflation has already increased to 12.7 percent which was a record increase in the last 9 years and in these circumstances, increasing prices at USC items would effect the common man. He said that one of the causes of high inflation was high...