ISLAMABAD: The business community, strongly rejecting the recent hike in gas tariffs, has said that the government should not punish masses but try to reduce rampant corruption in gas utilities touching Rs40 billion annually.
Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt, in a statement, said that the IMF condition to jack up prices was an excuse as the government only act according to the conditions when it is in their own interest. He said that gas prices are linked to oil which continue to recede therefore the gas price should have been reduced which makes the recent tariff rise illegal.
Butt said that gas companies have benefitted to around 77 billion rupees due to the decision while the share value of SNGPL and SSGC has also increased. But, the companies are terming the increase insufficient therefore they have summoned important meetings on 10th and 16th of this month in Lahore and Karachi. Further hike in gas prices within few days would not be allowed and it will result in eruption of protests across Pakistan, he warned.
Butt said that CNG sector has suffered the most from the decision while the captive power lobby has been take care of by a hike of only 4.8 percent which will continue to waste gas and get electricity for Rs 8 to 9 per unit. The masses have been thrashed by hiking gas price for power sector by 23 percent which is condemnable, he remarked. Such decisions will not help masses and the economy in any way, the veteran business leader said.
