Industrialists protested inflated gas prices

F.P. Report

PESHAWAR: In a bold display of defiance, the Hayatabad Industrialist Association of Peshawar has firmly rejected the recently introduced gas price hikes and called for the retention of the previous rates. The industrialists voiced their concerns during a protest held at the Industrial Estate in Peshawar, which garnered significant participation from the local business community.

Muhammad Ishaq, the group leader of the Hayatabad Industrialists Association and former president of the Sarhad Chamber of Commerce and Industry, delivered a passionate speech during the demonstration. He highlighted a significant point of contention: the fact that their province, Khyber Pakhtunkhwa, is a major gas-producing region, contributing substantially to the national gas supply. However, a considerable portion of this gas, roughly 45%, is exported to the neighboring province of Punjab.

Ishaq argued that it was unjust and illegal to apply the new prices of Regasified Liquefied Natural Gas (RLNG) to their industries when they do not predominantly consume it. He further elaborated that this sudden price increase would hamper their ability to fulfill existing orders and negatively impact the already fragile local industrial sector, potentially leading to substantial financial losses.

He emphasized that the industrial sector is a cornerstone of the region’s economy and is actively contributing to the nation’s exports.

A reasonable gas price is vital to maintaining competitiveness and ensuring that the cost of production does not skyrocket, subsequently affecting prices across various industries.

Faisal Kakakhil, addressing the assembled protesters, highlighted the fact that their province is a source of relatively inexpensive gas.

He argued that the people of Khyber Pakhtunkhwa have the first claim to this resource. He warned that imposing the new gas prices would not only raise the cost of production but also unleash inflationary pressures, making essential food items less accessible to the average citizen.

In response to this anticipated financial strain, manufacturers might be forced to cut their workforce and decrease the salaries of remaining employees, potentially aggravating the unemployment situation. The protesters, brandishing placards with slogans against the gas price increases, passionately called on the government to safeguard the economic stability of the region and reconsider the decision to hike gas prices.

The Hayatabad Industrialist Association’s strong stance and their extensive protest underscore the urgency of the matter, as the industrialists and local business community rally to protect the economic well-being of their province and its people.

The outcome of their plea to retain the previous gas prices remains uncertain, but it is evident that their concerns have now gained considerable attention and support.