KARACHI: Chairman of National Business Group Pakistan and president Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said increasing the price of natural gas for the industrial sector will escalate inflation.
After a record hike in petroleum prices, the government is now raising the price of gas for the industrial sector which will increase inflation. It will bankrupt hundreds of businesses, increase unemployment and reduce revenue, which will affect the FBR’s targets, he said.
Hussain said that the government should reconsider the implications of the decision to withdraw the cheap gas facility for the industrial sector.
He said that decisions taken under pressure from the IMF will affect the people and the economy. He said that it is wrong to delay the procurement of LNG and later put the entire burden of losses on the masses.
Copyright Business Recorder, 2021