KARACHI: The President of the Karachi Chamber of Commerce and Industry, Muhammad Jawed Bilwani, has urged the government to reassess its energy procurement and pricing policies to protect Pakistan's industrial sector and encourage economic growth.

Bilwani has advised maintaining the purchase of Regasified Liquefied Natural Gas (RLNG) from Qatar, suggesting that it be sold to industries at reduced rates. He proposed offsetting the pricing gap by supplying indigenous gas to captive power plants at lower costs, ensuring affordable gas supply for industries.

Highlighting the monthly import cost of RLNG at approximately Rs50.5 billion, Bilwani proposed providing this gas to industries for Rs40 billion and covering the remaining Rs10.5 billion with locally available, lower-cost gas.

Bilwani expressed concern over the unsustainable energy pricing structure, citing high energy tariffs, elevated taxes, and high interest rates as factors that hinder the competitiveness of Pakistani industries on the international stage.

He warned that reducing the supply of 400 million cubic feet per day of indigenous gas to regions under Sui Northern Gas Pipelines Limited, while increasing reliance on expensive RLNG, poses significant risks to the industrial sector and national economy.

Emphasizing the need for an enabling environment to foster industrial growth and boost exports, Bilwani noted that many industrialists have turned to biomass sources due to rising gas tariffs, finding them more economical.

He criticized the government's reliance on International Monetary Fund conditions, arguing that such policies harm the industrial base. Bilwani called for meaningful stakeholder consultations to develop balanced and sustainable energy strategies that align fiscal constraints with industrial needs.

Bilwani concluded by asserting the necessity of a clear roadmap prioritizing the industrial sector's viability, urging the government to move beyond temporary solutions and focus on long-term strategic planning.