The decision was made by the Karachi Chamber of Commerce and Industry (KCCI) on Thursday, December 1. The KCCI said that the gas price hike has made it "impossible for industries to operate profitably."
The industrialists are demanding that the government reduce the gas price to Rs1,350 per million British thermal units (mmBtu). The current price is Rs2,600 per mmBtu.
The KCCI said that the shutdown will affect all industries in Karachi, including textiles, pharmaceuticals, and chemicals. The shutdown is expected to have a major impact on the Pakistani economy.
The industrialists' decision to shut down their businesses is a sign of growing frustration with the government's economic policies. The Pakistani economy has been struggling in recent years, and the gas price hike is likely to make things worse.
The government has said that it is committed to supporting the industrial sector, but it has not yet offered any concrete concessions to the industrialists. It is unclear whether the government will be able to reach a deal with the industrialists before the shutdown takes effect.
The shutdown is a major test for the Pakistani government. If the government is unable to resolve the dispute with the industrialists, it could lead to further economic instability.
Information regarding Muslim World and Pakistan.
