KARACHI – Ismail Suttar, President of Employers Federation of Pakistan (EFP), the Apex Body of Manufacturers of Pakistan, has appealed to Prime Minister Imran Khan to further reduce the gas prices as the industry was expecting a huge cut in gas prices as is the case worldwide.
Speaking on behalf of local manufacturers, Ismail requested that the gas prices should be the same for exporters as well as local industry. He reiterated the importance of import-substitution in the current COVID situation and said that this cannot happen if cost of production for local industries remains higher than the region’s average.
“In these harsh times, the Federal Government must strive to make businesses compatible so that they can do import substitution, hence saving the pressure on foreign reserves. It is also pertinent to note that the local industry is an engine of growth, which creates huge employment and it is only the local industry that generates taxes and revenue”, he opined.
On behalf of industrialists, EFP President has appealed for reduction of gas prices below Rupees 600 per MMBtu.
