Traders urge govt to withdraw gas price hike

Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Muhammad Farooq Shaikhani has hit out at the Economic Coordination Committee (ECC) for its decision to make a massive increase of 65% in gas tariffs. He appealed to all political leaders and the country’s rulers to withdraw the gas price hike promptly to restore confidence of the business community and encourage collaborative efforts for stabilising the national economy. He urged them to reconsider the decision, pointing out that in developed countries, utilities were not exploited for economic gains. He asserted that the government’s focus should be on providing essential facilities to foster industrial growth, rather than jacking up gas and electricity tariffs without proper planning. He deemed it disastrous for industries and questioned the moral justification of the caretaker government, especially after February 2024 elections. He said the additional burden of Rs242 billion imposed on consumers was solely aimed at complying with IMF’s conditions, resulting in an adverse impact on businesses and the public.