SITE Association of Industry President Muhammad Kamran Arbi condemned the recent gas tariff hike approved by the Economic Coordination Committee (ECC) and the caretaker government.
Arbi urged caretaker Prime Minister Anwarul Haq Kakar, Federal Minister for Commerce, Industries and Production Dr Gohar Ejaz, and Minister for Energy Muhammad Ali to revoke the decision in the larger interest of the economy and to prevent industry collapse, according to a statement released by the association on Friday. Failure to do so, he warned, would lead to shutdowns, reduced exports, and widespread unemployment.
Read KCCI decries 191% surge in gas tariffs
The SITE association chairman criticised the lack of action from the caretaker government saying, “Running an industry is no more a profitable business. Unfortunately, the caretaker government has taken no step to create a competitive environment for industries, reduce production costs, and stimulate the economy, leaving the industrial community in despair.”
He stressed the importance of setting utility prices through stakeholder consultations to ensure they are reasonable and globally competitive, enabling uninterrupted industrial operations. Arbi warned that if gas tariffs are not reduced, they would adversely affect Pakistan’s exports.
Published in The Express Tribune, February 17th, 2024.
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