Opposes proposed increase in gas prices

Islamabad—Raise in the Sui gas rates, will put a negative impact on the economy, President Islamabad Chamber of Commerce, Mr. Ijaz Abbasi said while addressing a meeting at ICCI.
He said that industry is already under great economic strains due to shortage of energy, and prospective increase in the gas rates has spread weave of anxiety in the business community. President said that Pakistan is a gas producing country and enough reserves of gas are available in the country, therefore, consideration for increasing gas rates is totally unjustified. Muammad Ijaz Abbasi, said that in this era of tough competition, our industries has to be competitive to stay in the world market, but proposed increase in the fuel prices, would make our products uncompetitive in the international arena.
President emphasized that gas pipeline projects with Turkmenistan should be finalized soon because energy requirements are increasing rapidly. He said that industrial growth is directly linked with availability of gas and electricity and in case of shortage of these fuels; industries cannot grow and even are unable to produce desired output. Muhammad Ijaz Abbasi showed great concern on the proposal for increasing gas prices, because it would lead more inflation in the general commodities directly linked with gas. He said that common man is already under tremendous economic pressure, and proposed increase in the gas price will make their life more miserable.
He said that government is encouraging the use of CNG because of environment friendly fuel, but due to rapid increase in CNG stations, gas supply is cut off to the industrial sectors. He said that use of CNG should not affect the industrial activities, and government should consider putting a check in issuing more licenses for the installation of CNG stations because the saved gas would help meet requirements for domestic and commercial use. Muhammad Ijaz Abbasi, President ICCI emphasized the government to intervene in this matter and OGRA should not be allowed to increase the gas rates at proposed rate.

—Agencies