PESHAWAR: President Sarhad Chamber of Commerce and Industry (SCCI), Faiz Muhammad while terming the proposal of Oil and Gas Regulatory Authority (OGRA) seeking 144 percent increase in price of gas as detrimental for economy of country in general and KP in particular, has rejected it.
In a press statement issued here on Tuesday, President SCCI strongly rejected the proposal of OGRA seeking increase in price of gas per mmbtu from existing Rs. 723 to Rs. 1224, making an increase of Rs. 501. Faiz Muhammad said KP is producing 18 percent of country’s gas while Sindh’s share is 69 percent and Baluchistan’s 4 percent.
Increase in price of gas for consumers and businessmen of these provinces is against the spirit of article 158 of constitution of Pakistan and aimed at sabotaging historic 18th amendment, Faiz viewed.
President SCCI demanded of Prime Minister, Imran Khan to reject the proposal of OGRA as this increase will have very negative impact on economy of the country by affecting industrial production. “Gas is an important raw material of industries and increase in its price will stop the growth of manufacturing sector,” Faiz reiterated.
He said an increase of 35 percent in gas prices in October 2018 had caused sever public lash and further increase will have more harsh reaction from gas consumers.
Increase in CNG prices will directly impact poor strata of the country and the ratio of price hike will register a sharp hike, Faiz added. He also demanded that those provinces which are producing gas should be exempted from increase in its price and implementation on Article 258 of the constitution should be ensured.
President SCCI also demanded consultation of chambers before formulation of economic policies and changes in prices of electricity, gas and petroleum products.
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