LPG mafia raised price of domestic gas cylinders to Rs3600 - Press Release issued by Islamabad Chamber of Commerce and Industry.

Islamabad -- September 20, 2022 (PPI-OT)

Following is the text of press release issued by Islamabad Chamber of Commerce and Industry (ICCI)

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Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Tuesday said the central bank should immediately increase the interest rates and take action against the banks involved in dollar smuggling in order to stabilize the rupee and reduce inflation.

Import of vegetables from Afghanistan and Iran should not be hindered as it is important for food security in Pakistan, he said.

Shahid Rasheed Butt said that LPG mafia has increased the price of the domestic gas cylinder to 3600 rupees but the relevant institutions are silent spectators while the electricity bills are burying the people alive.

He said that the use of air conditioners is increasing worldwide due to increased temperature which is adversely affecting the environment.

The air conditioning industry needs to be better regulated and there is a need for increased investment in research and development to develop machines that use less electricity and have a less negative impact on the environment, he said.

Mr. Butt said that according to the International Energy Agency, currently there are two billion air conditioners running in the world, while their number will reach five billion by 2050.

Presently, air conditioners and fans are consuming almost ten percent of the power production but with the increase in temperature, their use will increase and cause an increase in the...