237% increase in gas prices will create a new tsunami of inflation : President FPCCI
Mian Rashid Asghar.
FAISALABAD: 237% increase in gas prices will create a new tsunami of inflation which will not only increase political and economic unrest but also increase unemployment. Therefore, the government should never allow this increase. Faisalabad Chamber of Commerce and Industry President Dr. Khurram Tariq said that inflation, political instability and floods have badly affected the Pakistani economy, while the increase in gas prices could worsen the situation. He said that even before winter, the government has issued notices to commercial connection holders to switch to LNG. If the prices of LPG also increase by the same ratio, the industrial sector will not be able to bear these huge additional costs and as a result there will be a storm of unemployment due to closure of industries. He warned that street crimes are already high in Faisalabad due to unemployment, while the closure of industries will make it difficult to provide security to people. He said that the government should take a decision after reviewing the facts on the ground, because the decisions made in haste not only worsen the situation, but later withdrawing these decisions also raises questions about the government’s performance. He said that the industrialists understand the financial constraints of the government, but the government should also understand the problems of the people so that decisions can be taken together in the best interest of the country.