Some foreign companies operating in the CNG sector are considering wrapping up their businesses in Pakistan due to inconsistent policies of the government.
This was said by Malik Khuda Bukhsh, President of CNG stations owners association. ‘Banning CNG conversions and promoting LPG as an alternative to CNG are the reasons why they are considering this ultimate option,’ he added.
He further said that inconsistent government policies are major concerns that have created fear among the foreign investors not to carry on with their investments anymore.
‘They are to relocate their businesses elsewhere in the region, and since in the last few years no foreign investment came in the country and two major investors in the power sector namely Xenel International and International Power have withdrawn their investments in Hub Power Company causing an outflow of $130 million from the country, another blow from CNG sector is in sight,’ said Malik.
While pointing out that companies including Landi Renzo, BRC, Tesla and some others had made an investment of millions of dollars in the CNG sector in Pakistan, he said that they have been directly hit by the abrupt government decision of imposing ban on import of CNG kits and that too without any consultation with them.
He informed that the government had been promoting CNG as an alternative fuel during the last decade and now when the investment of billions of rupees in the sector is booming, the government has suddenly changed its policy.
Let’s wrap up and get the hell out of here!
