LAHORE: Concerns over the detrimental impact of soaring gas prices on various industries have been raised by Kashif Anwar, President of the Lahore Chamber of Commerce and Industry (LCCI).

Anwar, along with Vice President Adnan Khalid Butt, met with representatives from the paper, board, packaging, food, and confectionary sectors to address the pressing issue.

During the meeting, industry delegates expressed distress over the recurrent and steep escalations in gas prices, citing significant losses incurred as a result.

Mounting gas bills have led industrialists to resort to disconnecting commercial gas meters in a bid to cope with the financial strain. Emphasizing the urgency of the situation, Anwar urged the government to acknowledge the plight of the industry and take measures to reduce gas prices promptly.

Members of the delegation voiced apprehensions regarding the escalating challenges faced by the industrial sector, warning of the adverse effects on business operations. Notably, a staggering 400 percent increase in gas prices has been recorded during the current fiscal year alone. Industry leaders cautioned that such exorbitant hikes in electricity and gas tariffs would severely impact exports, escalating the cost of conducting business and undermining the competitiveness of Pakistani products in the global market.

Copyright Business Recorder, 2024