Islamabad, September 20, 2022 (PPI-OT):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 pressure on the power system.

An increase in usage of air conditioners and fans by sixty to seventy percent has been also recorded in some areas during hot weather which is alarming.

Air conditioners use more electricity than any other appliance in the home. They consume a lot of electricity and leak potent planet-warming gases into the atmosphere.

As global temperatures rise and heat waves become more common and more deadly, the demand for air conditioners is increasing, especially in emerging economies such as India and China.

Most people make a decision based on price while buying an air conditioner because most companies hide important details on the packaging, we need better, safer, cleaner devices therefore and policymakers must impose regulations to save the planet.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk