Gas shortage in conjunction with electricity load shedding and tariff hike is causing immense problems for industries. Thus, Government should take necessary measures to ensure constant and uninterrupted supply of gas and electricity to run the wheel of economy.

Yassar Sakhi Butt, President, Islamabad Chamber of Commerce & Industry has made these remarks in a meeting at ICCI. He criticizing decision of Government for increasing gas tariff by 14 percent from 1st January 2012, said it would increase cost of production and load shedding for industry shall badly affect industrial production and commercial activities.

ICCI President said that the output of the industrial sector has declined sharply in 2011 owing to gas and electricity shortages. He indicated that sudden gas supply cuts and electricity negatively impact the production process as well and export of value added textiles which was considered to be a major foreign exchange earner of Pakistan has also recorded a steep fall due to gas load shedding. He urged the Government to take all possible steps for consistent supply of gas and electricity to industries.

Yassar Sakhi Butt said that the situation arising out of gas outages would lead to decline in exports, huge labor layoffs and decrease in the revenue of the Government. He said that business community of the Federal Capital would protest against the gas suspension if this practice is not put to an end.

He emphasized that Government must set priorities for supply of gas to resolve issues of gas and electricity load shedding. He said that huge gas reserves have been explored in Zain Koh which were much larger than the Sui reserves, therefore Government should execute this project on priority basis to bridge the rising gap between demand and supply of gas.

He cited the example of China, Korea and India, where more attention and incentives were given to industrial sector. He was of the opinion that Pakistan along with the agriculture sector, attention must be given to industrial sector that would ultimately lead it towards economic progress.