The Lahore Chamber of Commerce and Industry (LCCI) on Monday has demanded of the government to shelve its plans of making hefty increase in the gas tariff.
“Instead of taking such anti-business decisions, it would be better for the government to explore new reserves of natural gas,” he said.
In a statement issued, LCCI President Ijaz A Mumtaz said that any increase in gas tariff would be a big blow to the trade and industry which is trying to supplement the government’s efforts aimed at economic revival despite various challenges.
“Policy makers would have to keep it in their minds that gas is the basic raw material of the industry, increase in its prices would add to the miseries of Pakistani products in the international market,” Mumtaz said.
The LCCI president said that the Oil & Gas Regulatory Authority (OGRA) is not aware of the ground realities and it taking all decision without due consultation with the stakeholders.
He said that due representation of business community will turn OGRA into an efficient body.
Mumtaz said that increase in gas tariff would jack-up cost of doing business manifold and oust the export-oriented industries from the international export market where Pakistani products are already facing tough competition.
He said that such anti-business acts would hamper the growth of manufacturing sector.
He said that the proposed raise in the gas tariff would create multiple problems for the industrialists as they have to bear heavy loss while fulfilling their export commitments.
He said that the government machinery always vow to take the private sector on board but they do not bother to consult LCCI or any other sector-specific association while making the decisions like hike in gas or electricity tariff.
The LCCI president said that the impact of reported increase from August 1 would be much bigger than the expectation of the government who should avoid any such decisions keeping in view the economic scenario in the country.
“Increase in the gas tariff will put extra burden on cash starved industry therefore the OGRA authorities should avoid to take such initiatives. By making such decisions, the OGRA would not be doing any service to the industry but actually they are widening the gap between the private sector and government.”
