ICST opposes proposal to increase price of natural gas

Islamabad: Islamabad Chamber of Small Traders (ICST) on Wednesday said business community supports the decision of the government to probe the LNG import deal and make all of its details public. The former government has kept LNG deal secret despite public pressure which has strengthened the allegations of corruption which is worthy of a thorough re-examination, it said.

The recent proposal by some quarters to increase the price of natural gas is not in the public interest as it will result in runaway inflation, said Patron ICST Shahid Rasheed Butt. A leading businessman with interest in LPG has proposed three hundred percent hike in gas prices while the chiefs of both gas utilities have also demanded an increase in the tariff of gas, he added.

Shahid Rasheed butt said that the gas distribution companies also want to transfer an additional burden of Rs123 billion to masses as they seem not interested in controlling leakage, theft and corruption.

He said that the top energy officials continue to cheat the government on the issue of electricity and gas sector circular debts. The former government secretly provided free energy to some leading industrial groups for years and got billions in return.

Masses were penalised for the corruption of politicians and wealthy industrialists but not a single voice was raised by the concerned quarters. The new government should probe provision of free electricity and gas to influential businessmen and hold them accountable, he demanded.