The President of Karachi Chamber of Commerce and Industry (KCCI), Haroon Farooki, has expressed feared that industries in general and textile industry in particular might go out of production in the country if the Oil and Gas Regulatory Authority (Ogra) allowed 17 percent increase in gas tariff.
Addressing a press conference at KCCI auditorium on Wednesday, he urged the President of Pakistan to issue a presidential order for withdrawing Sui Southern Gas Company (SSGC) petition filed with Ogra, seeking increase in gas tariff.
He said he feared that the textile industry, which contributes around 65 percent in total revenue collection of the country, might shift to some other countries which provide better environment and better working conditions than Pakistan.
He said that the industry is already facing tough competition in international market and this increase would be the last nail in the coffin of the industries.
Haroon said that the cost of production in Indian, Bangladesh and China is much less than the cost of production in Pakistan. India, Bangladesh and China are the main competitors of Pakistani products in international market, he added.
He said that the chamber has made a plan to cooperate with all associations and trade bodies, including Aptma, Lahore Chamber of Commerce and Industry (LCCI) and engaged an advocate or consultant jointly to contest the SSGC petition on December 29, 2005.
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