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Gas closure for textile: LNG import to destroy Rs500b investment on CNG industry

Gas closure for textile: LNG import to destroy Rs500b investment on CNG industry

MULTAN: Secretary General of Multan CNG Association Rao Shahid has said that gas closure for textile industry will cause billions of rupees loss to national exchequer.

He was addressing a press conference the other day. He said that they had lot of reservations on the government decision about the gas closure. “Thousands of employees will be jobless due to gas shut down and CNG closure will increase the budget deficit due to increase in imports of oil,” he added. He said that no other source for gas is better than CNG. The govt decision to import LNG will destroy their investment of Rs 500 billion on the CNG industry, he added. “The government should bring gas from Iran rather than LNG from Qatar or Oman for the industry”, he held.