Chairman Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), MianAnjumNisar has warned that the continued escalation of energy prices could result in the closure of numerous industries, amplifying unemployment rates and diminishing Pakistan’s export capabilities, appealing to the government to reverse the decision promptly and establish a fixed gas price for industries.
In a statement issued here on Sunday, the former president FPCCI emphasizing the need for the government to explore and provide affordable energy alternatives for the industry, stressed that such measures are crucial for ensuring the competitiveness of Pakistani products in the global market. As the industrial sector grapples with the ramifications of the gas price hike, the BMP leader’s stance advocates for the preservation of industrial stability and the prevention of potential economic setbacks for Pakistan.
MianAnjumNisar said that the repeated increase in the gas and electricity prices to an unbearable level by the government has left the trade and industry uncompetitive; blaming it for trapping the country in the IMF plans.
Strongly opposing gas price surge, he said that the gas tariff hike has threatened the industrial sector, besides increasing unemployment, saying that the every government had poor economic policies that unleashed the free fall of rupee against the dollar, ensuing in input cost escalation to pull down the manufacturing growth.
The Chairman BMP condemned the recent increase in gas tariff as approved by the Economic Coordination Committee and the caretaker govt. He has demanded the government to take back the decision of hike in gas tariff in the larger interest of national economy and to save the industries from collapse. He warned that in case, the decision is not withdrawn; the industries will close down, resulting in decline in exports and mass unemployment.
In an appeal, he said that the business community was given assurance for 9 cents per KWh electricity tariff by the caretaker government.—PR
