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Gas price hike will take a toll on masses, industry

ISLAMABAD : Islamabad Chamber of Small Traders on Tuesday said recent gas price hike would take a toll on masses in shape of an additional burden of 166 billion rupees.

The hike is the gas price is part of the plan to burden people by over one trillion rupees that include another upward revision of gas and electricity tariff and increased taxes while developmental budget would be slashed substantially, it said.

The claims that gas price hike will not hurt masses are baseless as increased energy price will reduce growth rate and trigger inflation, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.

He said that the government should have taken steps against those industrialists who stole energy worth billions during the last five years with the help of high-ranking officials and politicians.

Shahid Rasheed Butt said that Ogra has failed to safeguard rights of the masses and it continues to dance on the tune of gas companies while Nepra is also playing the same game.

He said that government should end corruption worth 500 billion rupees in FBR and reverse exemptions worth Rs550 billion before increasing taxes.

Poor should not be taxed to please nobility and the wealthy should be forced to discharge their national obligations, he demanded.

Masses are always made to swallow the bitter pill which should be stopped as a balanced and transparent system can increase collection by 300 percent relieving country of foreign and domestic loans forever, he said.



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