RLNG to power plants demanded

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday demanded immediate restoration of full supplies of Re-gasified Liquefied Natural Gas (RLNG) to power plants to avert any crisis in export-oriented industries.

In a statement, FPCCI president Irfan Iqbal Sheikh said the country was already struggling with an enormous trade deficit, which stood at of $43.3 billion in 11 months of 2021–22 and state-owned foreign exchange reserves (FER) had fallen to merely $9.72 billion.

"The reserves are not even sufficient to cover two months of exports as country’s imports have surpassed $6 billion/month," he added. FPCCI chief asked the government to provide conducive environment, especially to the industrial production in export-oriented industries by ensuring non-stop gas and power supplies to them.