Rawalpindi /DNA/ – The Rawalpindi Chamber of Commerce and Industry (RCCI) has rejected the massive increase of 65% in gas tariffs and urged the Government to withdraw gas price hike.
RCCI President Saqib Rafiq in a statement said that the government has increased the gas prices for the second time in just four months and termed it disastrous for industries. He said that the ECC decision also put an unreasonable burden on a class of residential consumers using more than 2 cubic hectometers (Hm3) gas.
He urged the government to reconsider the decision, pointing out that in developed countries, utilities were not exploited for economic gains.
Saqib Rafiq emphasised the need to negotiate sustainable energy tariffs with the IMF and rationalise cross subsidies on industrial energy tariffs to support growth. He further added that this is the second time, Government has increased the gas tariff, yet the circular debt is increasing.
He said that the fresh increase in prices is expected to further fuel the inflation that remains far higher than the goal set by the central bank. The inflation rate in January remained at 28.4% as against the annual target of 21%, he added.
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