APTMA claims irrational gas price as compare to regional countries

ISLAMABAD: APTMA Sindh-Balochistan Region Chairman Imran Maqbool, in a statement urged to the Government that the price of gas provided to the textile industry located in the province of Sindh and Balochistan should be rationalized in comparison with the cheapest rate available to the industrial consumers in other gas producing countries of the world in particular the regional countries.

Mr. Maqbool further said that the impact of cheaper oil prices, which is continuously falling and is currently close to a 13-year low under $26/barrel should be provided to the local industry for an extended period as long as the commodity takes its turn in the international market. The government must ensure that all profits on the falling prices of oil and gas must reach to the general public and the industrial sector specially the textile industry which is suffering from the increased cost of doing business as compared to their competitors in the region, so that the industry be able to stay at its own foot and be able to participate actively in the economic development the country, he added.

Mr. Imran Maqbool demanded the government that a new pricing formula for purchase of gas especially by the textile industry of Sindh and Balochistan be considered, to match with the lower price of commodities at international market. He further demanded to save the export oriented textile industry of the country imposition of GIDC should be taken away from the Textile Industry completely.

He indicated the impact of smooth induction of RLNG in the gas system following the long term deal signed by the Government of Pakistan with Qatar Gas at 13.37 percent of the Brent Crude, must translate to the textile industry.

NNI

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