Criticising LNG project scaring away investors: Shahid Rasheed



ISLAMABAD, –  Former President ICCI Shahid Rasheed Butt on Sunday said the LNG project is being criticised frequently to settle scores which will scare away local and foreign investors.

Important projects should not be compromised for political gains as as the advisor to PM on petroleum and some other officials have taken a lot of pain to use LNG to overcome the gas shortfall, he said.

Shahid Rasheed Butt said that the efforts of the government has attracted a lot of notable local and foreign investors, therefore, this project should be spared for the sake of the country otherwise all the efforts will go down the drain.

The business leader said that businessmen are importing substandard wheat and sugar and a lot of stocks have been kept out of the country for the sake of undue profits, therefore, the government should start importing quality wheat and sugar without delay.

Masses should no more be left on the mercy of wheat, flour and sugar mafia which is out to skin people to earn billions overnight.

Mr Butt noted that coronavirus has reduced demand of almost everything. Same is the case for raw material used to make medicine but an unprecedented increase in the price has been allowed making life difficult for the poor.

Many people have simply stopped taking medicine while others have reduced dose of lifesaving medicine which is horrifying, he informed.

The government should reverse the decision or provide subsidy on electricity and reduce taxes on the pharmaceutical sector so that prices could be brought down, he demanded.