The Pak International Business Forum (PIBF) Lahore has announced its participation in the sit-in being organised by Jamaat-e-Islami against the petroleum levy, terming the levy a major burden on businesses, industry and the general public.
PIBF Lahore President Abdul Wadood Alvi, Secretary General Malik Mehmood Ahmed and Vice President Hafiz Ejaz said the business community had serious reservations over the continued burden of petroleum-related taxes and levies, which increase transportation and production costs and ultimately fuel inflation.
They said reducing the cost of energy and petroleum products was essential for improving the cost of doing business, strengthening industrial competitiveness and creating an environment conducive to investment and economic growth.
The PIBF Lahore office-bearers said the business community supported all peaceful and democratic efforts aimed at providing relief to consumers and businesses and reducing the overall cost of production.
They stressed that sustainable economic growth required practical measures to reduce input costs, promote local industry and improve the competitiveness of Pakistani products in domestic and international markets.
The PIBF Lahore leadership reiterated its commitment to raising issues affecting the business community and advocating policies aimed at economic stability, affordable energy and a business-friendly environment.
The forum has previously called for the removal of the petroleum levy, maintaining that lower fuel costs would help businesses, encourage investment and support sustainable economic growth.
