FAISALABAD: Faisalabad Chamber of Commerce & Industry (FCCI) president Dr Khurram Tariq has expressed concern over the proposed 237 percent increase in the price of gas and apprehended that it may trigger another wave of price hike in the country.

He said country’s economy was already facing the worst ever crisis due to the unprecedented inflation and political uncertainty coupled with the heaviest deluge. “At this critical stage increase in gas prices may deteriorate the overall situation by hitting the lowest strata of economy,” he said and added that it would further escalate political and economic uncertainty in addition fomenting unemployment.

He said the SNGPL has already issued notices to the commercial connection holders to opt for LNG ahead of the upcoming winter season. He feared that proportionate increase in the prices of LPG would become unbearable not only for the domestic but also for the industrial and commercial consumers. “Resultantly SME sector will be closed down rendering thousands of workers jobless,” he said and added that the law-and-order situation may also deteriorate and law enforcement agencies would be unable to provide protection to the life and property of masses.

He said the government should critically analyse the proposed increase and take decisions after considering the ground realities. He said that generally, decisions made in haste give severe backlash from the public and the government had to accommodate in a later phase. He said that industrialists fully understand the economic problems faced by the government but it should also comprehend the paying capacity of the common man and take final decisions in consultation with the stakeholders.

Copyright Business Recorder, 2022