Monday December 05, 2022

‘Government’s indecision on gas supply hampering trade’

January 28, 2022
‘Government’s indecision on gas supply hampering trade’

KARACHI: No gas supply during the last 66 days had spawned colossal financial and production losses to the industries of Karachi, and the government’s indecisiveness on the issue was causing

supply instability in the country’s global trade, said the apex trade body on Thursday.

“Global community and diplomatic circles in Pakistan are closely observing this deteriorated situation to report to their import interest from the country,” said Nasser Hyatt Maggo, president at Federation of Pakistan Chambers of Commerce & Industry (FPCCI).

He added that colossal financial and production losses, export orders in doldrums, massive layoffs expected, unrest, and uncertainty had prevailed and the government was not facilitating the business community in the metropolitan city.

“Business community in Karachi is highly distressed as they cannot operate their industries,” said Maggo, adding that national exports, revenue for the national exchequer, and influx of foreign exchange would also face a drastic decline on which “the government also seems to be mindless.”

He said the claims of the government being business and export friendly appear to be only a lip-service.

“Apparently, it sounds and feels like nobody in government is thoughtful of the situation and least bothered to care for and act towards the repeated appeals of industries of Karachi to rescue the industries, support industrial activities, and safeguard exports, which is highly awkward and deplorable.”

The president feared that efforts of the industries and their new investments for further industrialization would be sabotaged.

“Why should the industries suffer and pay for the sins committed by the ill-planners in the government, which have caused the ongoing gas crises?”

Maggo criticised over the government saying that weak planning was depriving the industries of Karachi from gas/RLNG and departing from the vision of the government to see the country on sustainable export growth to narrow down the gaps in balance of payments.