Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said state-run gas companies are becoming a threat to the economy due to increasing losses.
Professional management should be allowed to work or these utilities should be sold immediately to avoid further losses, which have jumped to one percent of the GDP, he said.
Mian Zahid Hussain said that realizing the situation, necessary steps should be taken as the gas companies have become white elephants for the economy due to increased political interference.
Talking to the business community, the veteran business leader said that the losses of Sui companies include gas theft, leakage and weak recovery while masses have to pay the price for the mismanagement of the gas companies.
The losses of the two state-owned gas companies have reached Rs654 billion and are constantly increasing.
The government is also facing huge losses and criticism due to mismanagement in the import, distribution, and sale of LNG, therefore the role of the private sector should be increased in gas imports so that the people and the business community can get cheap gas and the economy can grow.
Mian Zahid Hussain further said that the government should make reforms in the gas sector, but in the current situation, raising the price is considered reform which is wrong.
The government has assured the IMF about a further increase in gas prices after which almost everything will become more expensive and the condition of the people will become even thinner.
If gas is also made more expensive for the export sector, it will affect the exports which should be considered, he demanded.
Further liberalization of OGRA is on the cards which will enable the regulator to take decisions without pressure.
There are some elements who take salaries from the government but serve the interests of mafia and such dishonest officials should be removed before drastic moves.
