Karachi industrialists on Thursday announced a strike on December 4 against a recent increase in the gas tariff. On October 31, Pakistan announced a sharp increase in the price of natural gas for most households and industries ahead of Pakistan’s first review of a $3 billion International Monetary Fund (IMF) bailout.
President of North Karachi Association of Trade and Industry (NKATI), Faisal Moiz Khan and Javed Bilwani – patron-in-chief Pakistan Hosiery Manufacturers & Exporters Association in their statement said the units cannot run on the expensive gas rates. The cost of doing business has increased due to gas rate hike.They also said industrialists in other parts of Sindh and Balochistan will join their strike on December 4.
Pakistan: Domestic users these are your new gas prices. The leaders regretted that despite assurance the minister of energy did not visit Karachi to listen to their problems.
The high gas tariff has made the export-oriented industries unviable and uncompetitive in international markets when the country direly needs foreign exchange to control the swelling trade and current account deficits.
