February 19, 2024 (MLN): While rejecting the recent increase in gas tariff as approved by the Economic Coordination Committee, the President, of the SITE Association of Industry Muhammad Kamran Arbi demanded the caretaker government take back the decision to 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He warned that in case, the decision is not withdrawn, the industries will close down, resulting in a decline in exports and mass unemployment, according to the press statement.
In an appeal, Mr Arbi said that the business community was given assurance of 9 cents per KWh electricity tariff by the caretaker government.
The assurance brought a sigh of relief and hope for the business community that the new tariff will help in the reduction of production cost and they will be able to continue production unabated and deliver export orders on time.
However, contrary to the assurance given, POL, electricity and gas tariffs are being increased constantly by the caretaker government.
SITE President added that currently, the national economy is passing through a severe crisis. To run an industry is no longer a profitable business.
He questioned the Caretaker Prime Minister as to how the economy of the country could be stabilized and strengthened in the absence of industrial and business activities.
“Unfortunately, the caretaker government has taken no step to provide a competitive environment to industries, lower the cost of production and reignite the engine of the national economy, which has left the industrial community in despair,” Arbi remarked.
The utility prices should be fixed after thorough consultation with stakeholders, justifiable as well as regionally competitive so that industrial activities continue without hurdles, which would ultimately have a positive impact on the national economy and exports. In case, the gas tariff is not lowered, it will harm the country’s exports, he suggested.
Copyright Mettis Link News
Posted on: 2024-02-19T09:26:18+05:00
