ICCI strongly flays massive hike in gas prices

Islamabad: Islamabad Chamber of Commerce & Industry (ICCI) has strongly criticized the decision of OGRA as it made a massive hike of 14 percent to 207 percent in gas tariff on all consumers’ categories with the imposition of gas infrastructure development charges.

Businesses in the country are already facing tough challenges and further increase in gas tariff would cause inflation and great pressure on the business activities, Asad Farid, Acting President, ICCI has stated this in a statement issued on Saturday.

He said that increase in the gas prices put a direct impact on the transportation cost for the general masses and the prices of all commodities have been increased. He said that inflation has already crossed 20 percent and further increase in gas tariff would make the lives of people even more miserable.

He said that the decision of two holidays in a week has already badly affected the working of industries especially export oriented industries which have to work round the clock to meet the export targets throughout the year. He said that Government should consider alternative measures for saving energy and enhancing the capacity of power generating units.

President ICCI was of the view that the government must put a stop on increase in the tariffs and instead of adopting shortcut solutions to meet the energy demands, it must develop and implement a long term strategy to overcome the energy crises and increase in inflation.

He cited the example of Indian and Chinese rising economies, where more attention and incentives were given to industrial sector. He said that attention must be given to industrial sector that would ultimately lead it towards economic progress.

Asad Farid urged the Government to develop comprehensive plan for newly discovered gas reserves and bring them in the system to bridge the rising gap between demand and supply of gas as its shortfall was reaching billion cubic feet.

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