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Gas crises to affect industries, exports: Chairman PISMA

Gas crises to affect industries
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November 17, 2022 (MLN): The gas supply crisis to industries will badly affect industrial production, exports, halt all economic activities, and lead to massive layoffs, Chairman All Pakistan Iron & Steel Merchant Association Khalid Tawab said on Thursday.

Earlier, two state-owned companies Sui Southern gas company (SSGC) and Sui Northern Gas Company Limited (SNGPL) decided to stop gas supply to industries and this decision will lead to serious economic problems.

He further said, “The economic activities which seemed to have gained some momentum after a considerable time when the COVID pandemic situation had improved would be witnessing again the downward position”.

Both SSGC and SNGPL announced their decision without realizing that the current economic situation was already facing multiple challenges as a result of power shortage, high utility charges, pathetic infrastructure, and high petroleum prices, resulting in exorbitant transport charges, Chairman said.

To stop gas supply to the industrial sector would cause huge losses to the business community and industrial production ultimately diminishing our economic activities across the country and would lead to a law-and-order situation.

He has asked the Finance Ministry to facilitate foreign exchange requirements for LPG imports otherwise curtailment of gas supply for the residential, power sector, and industry would be more worsen than last winter.

He further asked to fill the demand-supply gap by importing additional LPG as in the winter season LPG demand would raise sharply which would raise the price of LPG for consumers.

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Posted on: 2022-11-17T15:51:35+05:00

 

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