In a bold move, Karachi’s industrial community has declared a decisive strike set for December 4, protesting against the recent surge in gas tariffs announced by Pakistan. The tariff hike, unveiled on October 31, has sent shockwaves through households and industries alike, coming just before the country’s inaugural review of a substantial $3 billion International Monetary Fund (IMF) bailout.
Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry (NKATI), along with Javed Bilwani, the Patron-in-Chief of the Pakistan Hosiery Manufacturers & Exporters Association, issued a joint statement highlighting the impracticality of sustaining operations under the escalated gas rates. They emphasized the detrimental impact of the gas rate hike on the overall cost of conducting business, underscoring that units simply cannot operate efficiently under such circumstances.
Expressing solidarity, the industrialists extended an invitation to counterparts in other regions of Sindh and Balochistan to unite in the strike scheduled for December 4. This collective action aims to address the shared concerns and challenges posed by the soaring gas tariffs.
For domestic users across Pakistan, the announcement of the new gas prices has brought unwelcome changes to their budgeting. Despite assurances, the leaders lamented the absence of a visit from the Minister of Energy to Karachi, leaving their grievances unheard.
The repercussions of the elevated gas tariffs extend beyond the local market, severely impacting export-oriented industries. This has rendered these industries unviable and uncompetitive on the global stage precisely at a time when Pakistan urgently requires foreign exchange to address the burgeoning trade and current account deficits.
