Early morning of 2nd April woke up with the noise of ballistic missile fired by the government on it’s beloved people, whom they promised to provide all luxuries of life, in the form of petrol price hike by Rs 137/- that is , Rs 458 per litre. Think this happened in a country where 40 to 47 percent people live below the poverty line struggling for daily food requirement. This percentage will now definitefly increase more.
On the contrary, perhaps 14 to 34 luxury cars included in protocol of V.I.P ‘s and V.V.I.P’s.
Why the number cannot be reduced immediately to two or even zero protocol cars? Instead of transferring all burden to it’s people first government should adopt austerity measures in office.
This slightly over 40 percent increase in petrol price is the highest in the region at the time when people are still suffering, reeling from the inflated prices in during Ramazan , now this new bomb shell on people. The timing is tough and increase not justified.
The price hike as per authorities is attributed to rise in global oil prices, the Middle East conflict and Pakistan’s heavy dependence on imports.
Criticts are questioning the government’s decision and protests have erupted in all big cities. The Lahore High Court even received a petition challenging the price hike saying the increase is niether justified nor transparent.
However, the government has announced some relief measures, subsidy of Rs 100/ per litre to motorcycle users and Rs 70,000 to 80,000 for goods transport vehicles plus Rs 100,000/ to passenger vehicle.
The government relief package is not acceptable as has no real impact, also hasn’t been implemented to date leaving people to face the brunt of the price hike. Transport cost almost doubled , which I, myself experienced while filled the gss today. Naturally food prices are soaring with inflation skyrocketing all time high. Our income or revenue hasn’t increased, however our real income shrinking drastically.
In the region it is observed that our neighbours have been tackling the issue so diligently.
Neighbours like India ( 0 % increase) ,Bangladesh ( 5 % ) and Afghanistan with ( 2 % ) are for sure managing better. Why can’t Pakistan adopt their model.
Do research, study , observe and apply.
Our middle class already in crises making the ends meet with multiple taxes imposed..
The poor and lower middle class are hit the most think of the population who commute to work daily from near and far distance, the factory workers , the house help, the labor class now pay double the cost and face instant increased priced on food items . How will the poor and also not only lower middle class but even middle class is merely surviving food inflation.
The frustrated public end up in raising voice by protesting on streets. Low mobility of public also observed. High commuting costs forced them to stay home.
Some gas stations also reported approximately 60 percent decline in daily sales. This may be considered as an indicator of rise in poverty level, hence, decline in purchasing power. current wave of inflation tend to cause highest level of real income decline.
The situation is termed as not only challenging for the public but also critics calling it fatal for the economy. In developing countries like Pakistan fuel price when doubled greatly impact the economic stability. Increasing transport cost, retail price of goods and services immediately cause significant inflationary pressure on a common man. Simultaneously cost of production increase for agricultural farmers and manufacturing industries. Freight transport and energy cost also rise upward. Impact of all the above will be transfered to a consumer, a common man.
However, question arises why can’t Pakistan explore cheaper options like buying petrol from Russia and Iran at lower price as our neighbour is doing?
Pakistan petroleum minister says purchasing Russian crude oil is not a viable option. Afghanistan can buy oil at cheaper price from Russia. It’s time now to think of other options seriously and sincerely.
