Karachi Cham-ber of Commerce and Industry (KCCI) President Mian Abrar Ahmad has rejected the recent move by Economic Co-ordination Committee (ECC) to increase gas loadshedding for industry and CNG sector.
President KCCI, in a press note stated that the KCCI takes a very exception to the said news regarding gas loadshedding and the possible curtailment to the industries and CNG sector in Sindh in spite of ample reserves and gas availability in the province so that an even loadshedding time table can be introduced across the country.
He cautioned that the decision would severely harm the economy and demanded to consult with business community. He also warned that the situation arising out of gas outages will lead to colossal collapse in commitment to export orders, flight of capital, huge labour layoffs, and worsening of law and order situation and decline in the revenue of the government.
He further said that on one side government is contemplating to increase targets for nominal growth and on the other side its harsh decisions to increase utility tariffs and gas and power outages are posing severe threats for achieving the said target. At present, country is going through a very serious economic crisis in terms of escalating cost of production/ manufacturing based on continuous rise on the utilities, he concluded.-PR