LCCI urges govt to address reservations of beverage and confectionery sector
Business
The rising cost of doing business hits the sector hard
LAHORE (Web Desk) - The Lahore Chamber of Commerce and Industry (LCCI) on Thursday urged the government to redress the financial implications of beverage and confectionery sector.
The beverage and confections sector have expressed grave concern over rapidly rising cost of doing business.
A delegation of beverage and confectioners led by Tahir Anjum called on LCCI president Kashif Anwar and apprised him of the miseries of both .
The delegation members said that sugar is basic raw material of the sector. During the last two weeks, the price of sugar has increased drastically which has increased the cost of doing business tremendously. They said the price of confectionery products has increased significantly, which has reduced the market share significantly.
The delegates said the increasing prices of beverage and confectionary products will further reduce the buying power of the consumers. They demanded of the government to immediately control the prices of sugar and prevent the cost of doing business from increasing so as to reduce inflation.
LCCI president Kashif Anwar assured the delegation of his full cooperation, saying the government should take concrete steps to protect this sector and reduce the cost of doing business.
He said as a good number of people are employed in the beverage and confectionary business, adding increased cost of doing business will further increase the problems of this sector, the businesses will be closed and unemployment will be increased.
Anwar urged the government to find out and control the factors that have led to the huge increase in the prices of the basic raw material for confectioners.
