Pakistani exports become uncompetitive after govt doubles gas prices

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The story "Pakistani exports become uncompetitive after govt doubles gas prices" was covered 11 hours ago by Business Standard, a news publisher based in India.

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Pakistani exports become uncompetitive after govt doubles gas prices - Business Standard

Quick Summary:

Pakistani exports have become uncompetitive after the government doubled gas prices for in-house power generation by factories, endangering the target of a three-year goal of increasing exports to USD 60 billion, according to a business body.

In a paradoxical situation, the miseries of industries are apparently an achievement for the government that has met an International Monetary Fund (IMF) loan condition to either make gas unaffordable for in-house power generation or completely cut it off, the paper reported.

The government has chosen the first option, which became the reason for the PBC a representative body of manufacturers to write a letter to the prime minister, reporter the paper.