Industrialists announce production shutdown in Karachi on December 4

KARACHI:  Industrialists in Karachi have announced a complete production shutdown on Monday (December 4), in a bit to force the caretaker government to reverse the unprecedented hikes in the gas tariffs.

They estimate a per day export loss of $47 million from the port city, says in media reports.

Businessmen have already displayed protest banners at the offices of all trade associations, demanding the government to immediately bring down the gas rates to Rs 1,350 per mmBtu approved by the Oil and Gas Regulatory Authority (OGRA) instead of the high tariffs of Rs 2,100 – Rs 2,600 per mmBtu.

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This was announced by various industrial bodies at the third press conference held at the Site Association of Industry (SAI) on Thursday, which was attended by the office-bearers of various industrial associations and value-added textile sectors. Businessmen Group Vice-Chairman Jawed Bilwani said that based on the country’s total exports of $9.6 billion during the July-October period, the cumulative per day exports stand at $79 million in which the share of Karachi is 60 percent or $47m per day.

He claimed that all the trade bodies from Sindh and Balochistan are extremely perturbed over the exorbitant hike in gas tariffs which has made it impossible to keep the wheels of industries running. Lasbela Chamber of Commerce and Industry from Balochistan along with Nooriabad and Kotri chambers have also joined our protest and assured to fully endorse all the strategies adopted by the Karachi Chamber of Commerce and Industry (KCCI) to deal with the situation, he said. – INP