KARACHI: While strongly opposing the Oil and Gas Regulatory Authority’s (Ogra) price hike recommendation for the Sui Southern Gas Company Ltd, the Karachi Chamber of Commerce and Industry (KCCI) has said that this unjust increase would add further burden masses and industries already grappling with inflation and soaring energy costs.
In a statement on Thursday, President Mohammad Jawed Bilwani said the proposed massive hike of 25.78pc will severely impact manufacturing and exports, which had recently shown signs of recovery.
“It’s troubling that every time the economy shows signs of improvement, such anti-business measures are introduced, stifling growth and competitiveness,” he deplored.
He asked Ogra to cut prices in view of lower interest rates and a decrease in unaccounted-for-gas losses.
He also highlighted promises made by the highest hierarchy of government, including the Ministry of Petroleum, to reduce gas prices to support the export sector, but Ogra’s proposal contradicted these assurances, undermining the government’s commitment to helping industries remain competitive in the global market.
Published in Dawn, December 20th, 2024
