KARACHI: The Karachi business community has warned to shift their units to other countries, if gas tariffs will be hiked.
Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Vohra, in a statement, said the proposed hike in gas tariffs from 10 to 65 per cent would hurt industry, particularly the value-added textile sector. He said that globally the prices of both POL and gas were decreasing but the government in Pakistan first increased GST on POL and now planned to raise gas prices.
The KCCI president 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. “Globally the norm is that utilities cannot be subjected to duties for revenue generation,” he added.
