KATI opposes gas price hike decision
Naqi expressed deep concern over the move, stating that industries are already burdened with skyrocketing electricity, fuel, and raw material costs. 'Now, this increase in gas tariffs will deliver a serious blow to the economy,' he said. Gas, he added, is a critical raw material for several key sectors, particularly textiles, food processing, iron and steel, chemicals, and fertilizer, all of which will be directly impacted.
He also criticized the government's simultaneous decision to raise fixed gas charges for domestic consumers by 50%, noting that the indirect financial burden would also eventually fall on industries. 'By shifting the weight of this increase onto the industrial sector, the government is once again treating businesses as scapegoats,' Naqi remarked.
The KATI President warned that the hike in gas prices would not only raise production costs significantly but also render Pakistani exports uncompetitive in the global market. 'The government seems oblivious to the fact that a decline in exports directly affects foreign exchange reserves and slows down overall economic momentum,' he added.
Naqi pointed out that independent power producers (IPPs), who rely on gas to generate electricity, would now produce even more expensive power, a cost that would ultimately be passed on to the public, small businesses, and the industrial sector alike.
'At a time when Pakistan desperately needs industry-friendly policies to stay afloat, such decisions are akin to stalling the wheels of economic activity,' he stressed.
Referring to OGRA's approval of a 6.6% increase in gas tariffs for fiscal year 2025–26 to help gas companies recover a revenue target of Rs 890 billion, including Rs 354 billion for Karachi-based SSGC alone, Naqi said the industrial sector is being unfairly forced to shoulder the consequences of financial mismanagement by public gas utilities.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
an hour ago
- Express Tribune
PM Shehbaz to attend ECO summit in Baku from July 3-4
Listen to article Prime Minister Shehbaz Sharif will attend the two-day 17th Economic Cooperation Organisation (ECO) Summit in Baku, Azerbaijan, beginning today (Thursday). The summit, scheduled for July 3–4 under the theme 'New ECO Vision for a Sustainable and Climate Resilient Future', will bring together leaders from member states to discuss key regional challenges, economic integration, and climate resilience. During the two-day event, the prime minister will lead the Pakistani delegation and present Islamabad's perspective on pressing regional and global issues. PR No.1️⃣9️⃣6️⃣/2️⃣0️⃣2️⃣5️⃣ Curtain Raiser: Prime Minister to Attend 17th ECO Summit in Baku Azerbaijan 🔗⬇️ — Ministry of Foreign Affairs - Pakistan (@ForeignOfficePk) July 2, 2025 He is also expected to reiterate Pakistan's commitment to the ECO Vision 2025 and advocate for greater intra-regional trade, enhanced connectivity in transport and energy sectors, and sustainable development. The ECO traces its origins to the Regional Cooperation for Development (RCD), which was established in 1964 and later expanded into ECO in 1985. It now comprises 10 member states from South and Central Asia as well as the Middle East. On the sidelines of the summit, PM Shehbaz will hold bilateral meetings with ECO leaders to discuss matters of mutual interest, with a focus on economic cooperation, climate challenges, and regional peace. Read More: 'Pakistan follows independent policy' Pakistan has consistently raised its voice on the global climate crisis, highlighting its position as one of the countries most vulnerable to climate change, despite contributing less than one percent to global carbon emissions. Rising temperatures, erratic rainfall, and the accelerated melting of glaciers have exposed the country to recurring natural disasters, threatening food security, public health, and the national economy. The devastating floods of 2022 served as a grim reminder of Pakistan's climate vulnerability. The disaster affected more than 33 million people, claimed over 1,700 lives, and displaced more than eight million. The flooding caused widespread destruction of infrastructure and crops, inflicting an estimated $14.8 billion in damage and $15.2 billion in economic losses. The humanitarian impact was severe, with many survivors forced to live in temporary shelters amid limited access to basic services. The prime minister is expected to raise the issue of climate justice during his address, calling for stronger regional cooperation and international support for mitigation and adaptation efforts.
Business Recorder
2 hours ago
- Business Recorder
Indian court allows Crocs to pursue infringement challenges
NEW DELHI: An Indian court has revived nine-year-old lawsuits filed by Crocs Inc which accused several Indian companies of launching footwear identical to its popular rubber clogs, allowing the U.S. firm to press ahead with its infringement challenges. The court's announcement late on Tuesday comes just as another international brand, Prada, is facing heat in India for showcasing sandals during a Milan fashion show which were similar to Indian ethnic footwear, sparking a nationwide furore. Prada later acknowledged they were inspired by Indian designs. Crocs had sued six companies including Switzerland-based Bata's India unit as well as local players Relaxo and Liberty for allegedly copying the shape of its footwear but an Indian court had said in 2019 that the case could not be taken up citing technical grounds. Crocs however filed an appeal in which the high court on Tuesday gave it permission to pursue the case saying 'the dismissal of Crocs' suits cannot sustain in law.' X, India spar over lawyer's 'Tom, Dick, and Harry' remark for government officials In the original court challenge, Crocs said the rivals should be restrained from selling the footwear which it called an obvious imitation of its rubber clogs. Liberty, one of the companies sued by Crocs, argued that Crocs was not the originator of the designs and it too had merely copied the clog shape of footwear in use by others much prior. Launched in Colorado in 2002, Crocs' quirky, bright and comfortable resin shoes quickly attracted a cult following. Over the years, they have become popular in India, where they are sold across several footwear stores. India's footwear market is set to be worth $33.86 billion this year, according to market research firm Statista, and 97% of the market is dominated by non-luxury footwear.
Express Tribune
4 hours ago
- Express Tribune
Pakistan slams India at UNGA over human rights abuses, state terrorism
Listen to article Pakistan, in a strongly worded statement at the United Nations General Assembly (UNGA), accused India of widespread human rights abuses, religious persecution, and sponsoring terrorism within Pakistan. Responding to remarks made earlier by the Indian representative, Second Secretary at Pakistan's Permanent Mission to the UN Rabia Ijaz said she was compelled to reply to what she termed a 'misleading and hypocritical narrative' presented by New Delhi. 'This is a classic case of an oppressor masquerading as the victim,' she said, adding that India had 'weaponised hate, normalised mob violence, and institutionalised discrimination' against its own citizens, particularly religious minorities, as well as against the people of Indian Illegally Occupied Jammu and Kashmir (IIOJK). She rejected India's invocation of the principle of Responsibility to Protect (R2P), arguing that a state system built on exclusion and repression had 'no moral ground' to invoke such doctrines. Read More: Pakistan assumes UNSC presidency today The Pakistani diplomat stated that India, under the BJP-RSS nexus, had transformed into a 'majoritarian autocracy,' where Muslims, Christians, and Dalits were living under 'constant fear.' She pointed to a spate of mob lynchings, the use of bulldozers for collective punishment, the demolition of mosques, and discriminatory laws that strip citizenship on religious grounds as evidence of systematic state-sponsored oppression. On the Kashmir dispute, Rabia rejected India's claims that the region is an internal matter while reiterating Pakistan's long-standing position that Jammu and Kashmir is an internationally recognised disputed territory. Citing UN Security Council resolutions — including 47 (1948), 91 (1951), and 122 (1957) — she said the people of Kashmir must be allowed to exercise their right to self-determination through a 'free and impartial plebiscite.' 'India had accepted these resolutions and is bound under Article 25 of the UN Charter to implement them,' she said. 'Its continued refusal is a persistent violation of international law.' Ijaz also accused India of launching unprovoked attacks on civilian areas in Pakistan on May 6 and 7 this year, resulting in the deaths of 35 innocent people. She condemned the strikes as a violation of the UN Charter and international humanitarian law. Also Read: Pakistan advances peace at UNSC Raising the issue of children in conflict zones, the Pakistani representative noted India was responsible for the killing of 15 children in Pakistan in what she described as a 'massacre.' She urged the UN to document these incidents in all relevant reports, saying the attacks were not the result of military engagements but deliberate targeting of civilians. Rabia further shared Indian involvement in a series of terrorist incidents inside Pakistan, ranging from the 2014 Army Public School attack to a recent assault on a school bus in Khuzdar. She stated that Indian intelligence agencies were supporting banned outfits such as the Tehreek-i-Taliban Pakistan (TTP) and Balochistan Liberation Army (BLA) in an ongoing 'covert war' against Pakistan. 'These are not mere accusations,' she said, adding, 'They are backed by documented evidence and public admissions made by former Indian officials.' Concluding her address, the Pakistani envoy cautioned against the selective use of international principles, saying R2P must not become a 'slogan' for states that themselves engage in systematic oppression at home and destabilisation abroad. 'If the international community is truly committed to the principle of protection, it must begin by holding all perpetrators accountable — India included. There can be no exceptions, no blind spots, and no double standards,' she added.
