The Businessmen Panel (BMP) of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has warned the government of another hike in gas prices by up to 31%, as the gas companies have sought an increase of up to Rs194 per unit in their tariffs.
The chairman of the Businessmen Panel (BMP) Mian Anjum Nisar said that the cost of doing business has already been increased manifold, leading to constant decline in exports but the Sui Southern Gas Company and Sui Northern Gas Pipelines Limited are planning to put an additional revenue burden of about Rs94 billion on domestic as well as the industrial consumers, as they are planning to increase their tariffs, though the government has already raised gas prices by up to 190% in July this year under tough conditions of the $6 billion IMF loan programme.
Mian Anjum Nisar added that electricity prices were also increased by Rs1.50 per unit which is unfortunate. He also condemned the government for increasing prices of three major petroleum products on 1st of Nov, which will cause an additional burden of about Rs700 million on consumers in this month. He said that it is unfortunate that besides the 17% GST, the government has more than doubled the rate of petroleum levy on HSD in recent months to Rs.21 per litre from Rs.8 per litre, while levy on petrol has also been increased by 50% to Rs.17.20 per litre from Rs.10 per litre.