PESHAWAR, Oct 6: Khyber Pakhtunkhwa Chamber of Commerce and Industry president Dr Mohammad Yousaf Sarwar on Saturday opposed the federal government’s plan to import liquefied natural gas, declaring it unwise.

Mr Sarwar told reporters here that the government should review the LNG import plan as it would negatively impact on business and investment in the country.

“Adviser to the prime minister on petroleum and natural resources Dr Asim Hussain recently claimed discovery 300 to 400 billion cubic feet gas reserves in Sindh, so after discovery of such huge gas reserves, there is no justification for LNG import,” he said.

The KPCCI president said import of gas would adversely affect local gas industry and consumers.

He said Khyber Pakhtunkhwa had vast reserves of natural gas, especially in its southern districts.

Dr Sarwar said the province was contributing eight per cent of the country’s total gas production, but it was denied new gas connections.

“It’s unjustified,” he said.

The KPCCI president said the province had a net gas consumption of four per cent. He demanded that the federal government withdraw ban on new gas connections in the province.

He demanded immediate withdrawal of LNG import plan and restriction on new gas connections in the province.

Dr Sarwar criticised Oil and Gas Regulatory Authority for fixing oil and CNG prices on weekly basis and suggested that the said prices be revised on monthly basis.

He said he would try to resolve issues faced by business community. He said a delegation of local businessmen along with Chief Minister Ameer Haider Hoti would meet Prime Minister Raja Pervez Ashraf soon for requesting him to extend the Prime Minister’s Fiscal Relief Package to the conflict-hit province.

The KPCCI president stressed the need for execution of hydropower generation projects to meet the province’s growing energy demands.

He suggested that the centre hand over the control of power and gas processing and production units to provinces.

Mr Sarwar appreciated establishment of Khyber Pakhtunkhwa Board of Investment in line with the demand of the chamber and urged the board officials to resolve problems faced by business community.

“We have planned to prepare solid proposals for the government to make a new industrial policy to promote industrialisation in the province,” he said, suggesting establishment of a modern business hub park.

The KPCCI president voiced concern about low lending rate of commercial banks in the province and said the matter would be taken up with the State Bank of Pakistan to direct banks to change their policies for the good.