President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari, vehemently rejected the recent surge in gas prices, asserting that this decision poses a severe threat to the industrial sector, potentially leading to increased unemployment. Qandhari expressed concern over the already elevated production costs in the region, rendering industrialists less competitive compared to their counterparts in neighbouring countries.

Highlighting the industry’s prior demand for a reduction in gas prices from Rs 2100 to Rs 1800 per MMBTU, Qandhari underscored that the recent government decision to raise prices to Rs 2700 to Rs 2900 per MMBTU intensifies the challenges faced by the industrial sector.

President KATI warned that the continued escalation of gas prices could result in the closure of numerous industries, amplifying unemployment rates and diminishing Pakistan’s export capabilities. Qandhari urgently appealed to the government to reverse this decision promptly and establish a fixed gas price of Rs 1800 per MMBTU for industries.

Emphasizing the need for the government to explore and provide affordable energy alternatives for the industry, Qandhari stressed that such measures are crucial for ensuring the competitiveness of Pakistani products in the global market.

As the industrial sector grapples with the ramifications of the gas price hike, President Johar Qandhari’s stance advocates for preserving industrial stability and preventing potential economic setbacks for Pakistan.