KARACHI: In contrast to global phenomenon where the prices of both POL and gas are on the decline, but Pakistani government first increased GST on POL and now is planning to raise gas prices.
The Karachi Chamber of Commerce and Industry (KCCI) will the government move as increasing in gas tariffs will hurt the industry adversely.
Voice concern over the proposed hike in gas tariff, KCCI President warned that the businessmen would shift their units to other countries where cost of production was lower if the gas tariff was jacked up.
In a statement, Iftikhar Ahmed Vohra said the proposed hike in gas tariffs from 10 to 65 per cent would hurt industry, particularly the value-added textile sector.
He feared closure of textile, leather, confectionery, iron, steel, beverages and many other gas consuming industries that may offload workers with a view to cut manufacturing cost.
