Rising inflation has greatly affected the economic growth of the country and all segments of the society, thus immediate action and concrete measures are required by the government to arrest the inflation which at present is more than 20 percent, stated Mr.Mahfooz Elahi, President of Islamabad Chamber of Commerce & Industry while addressing a meeting of the representatives of the business community. 

He said that inflation has created multiple problems and this phenomenon seems going out of the control and highly emphasized that top priority must be given to control it.

Due to inflation prices of the general commodities are shooting up that has badly suffered the purchasing power of a common man, thus a proper mechanism and strategy must be evolved by the government to boost industrial growth, provide relief of masses and acceleration of economic activity in the country, he added.

He said that gradual increase in electricity, gas and petroleum products tariffs are putting tremendous inflationary pressure on the general public that has not only weaken their purchasing power and but also made their lives miserable.

ICCI with the consensus of the representatives of the business community strongly demanded that the Supreme Court of Pakistan must take a very serious note and action on rising inflation, whereas Parliament should deliberate on this issue on regular basis until a viable solution of this problem is found out, which has really crippled the economy of the country. 

He said that policymakers must react fast and without wasting more time, should come up with practical solutions to control inflation and government must adopt simple life pattern cutting unnecessary expenditures.