According to the trade body, the gas supply to the industries and households is still not sufficient.
Moreover, this hike will lead to price spiral in the retail market, plus impede export by the manufacturing sector and increase transportation cost and overall cost of doing business.
The decision will pose a challenge for garments and local industries as they have to face tough competition in the world market. Besides, gas-based power generation, captive power generation and fertiliser production will also be costlier due to the price hike.
DCCI urges the government to review the decision, considering the present cost of doing business, inflation and greater interest of the mass people.