Businessmen call for uninterrupted, low cost gas

KARACHI: The government should upgrade gas transmission and distribution systems to avoid losses, as the domestic, as well as export industry, is fearing to face gas supply disruptions in winter season, an official of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Wednesday.

FPCCI’s Businessmen Panel (BMP) chairman Mian Anjum Nisar has called for uninterrupted supply of gas to the industrial sector, urging the government to up-grade its distribution and supply system to avoid losses.

Nisar urged the government not to tolerate any laxity towards up-gradation of gas and power transmission and distribution system, as any negligence could cause unbearable loss to the trade and industry.

He said that the unaccounted for gas (UfG) of Sui Northern Gas Pipeline Limited (SNGPL) reached around 11.9 per cent and 16 per cent of Sui Southern Gas Company (SSGC) in financial year 2020/21 against the permissible limit of 7 per cent.

He stated that gas and electricity are basic ingredients for the industrial sector and are a must to keep the wheel of industry moving adding that the growth of local industry is a barometer of the economy.

The Businessmen Panel Chairman observed that business-friendly policies should be adopted as other neighboring countries of the region are giving to the industry adding that a sizable cut in oil rates would certainly bring down the cost of doing business and our products would get their due share in the global market.

Nisar called upon the government to address the key issues of trade and industry, facilitate economic growth along with improving tax revenue of the government.

He said that the impact of Covid-19 has badly affected the business and industrial sector, stressing the government to bring down general sales tax (GST) in order to ease the difficulties of businesses.

FPCCI’s presidential candidate for election of 2021/22 nominated by BMP Irfan Iqbal Sheikh, observed that the government has made unprecedented increases in the ratio of tax, duties and Petroleum Levi ostensibly to earn billions of rupees in revenue.

He said that the economy of Pakistan had been severely affected by the Covid-19, as the industries, particularly the SMEs, are striving to deal with the economic crunch and need to get support. Instead of providing subsidies or waivers, it is unjust to overburden the industries with a hike in cost of production.

The inflation is on a higher side due to the impact of government’s economic policies of soaring fuel rates, enhancing power and gas tariff and depreciating the local currency, he added.