ISLAMABAD: The Statistic Division released Sensitive Price Index (SPI) rate here on Friday that shot up to 12.94 %, showing an alarming increase of 1.21 % in just last one week. Such a big surge in SPI stoked the rates of the daily household use to give new height to already killing price-hike. Atleast two factors played a role to push up SPI in the last one week. These included persistant upward revision in petroleum products’ prices and repeated increase in the power rates.
The Pakistan Tehreek e Insaf (PTI) government is increasing oil prices on fortnightly basis. Under this pro oil mafia policy, the rates of petroleum products went up four times in just two months. The government, as agreed with the International Monetory Fund (IMF), is regularly increasing power rates. This strategy of appeasing multinational donors and secure more loans has made the people lives miserable.
As per Statistic Division weekly SPI report, as many as 22 items of daily use became costlier in the last one week and 21 remained stable. The prices of 8 items showed downward trend in the last week. The items which became cheaper included banana, lentils and eggs .
Whereas, chicken price shot up to Rs 262.35, showing an increase of Rs 38.35 a kg. LPG cylinder price went up by Rs 152.28, sugar 0.47 per kg, petrol, diesel tomato rates rose up considerably. Wheat flour rates went -up by Rs 23 per 20 kg. Milk, rice, lentils , potato prices went up. Potato prices rose up by Rs 2.95 per kg in the last one week. The prices of tissues, soap, cooking oil and ghee , mutton. garlic went up. Garic prices made a big jump of Rs 9.95 per kg in a week.
Pakistan’s top economist and Dean Social Sciences Department NUST, Dr Ashfaq Hassan Khan , in his reaction to surge in SPI said ” Let me tell you its a doomsday situation now. The people are paying huge price of the government’s directionless economic policies”.
Dr Ashfaq Hassan Khan strongly believes some insiders were working against Imran Khan government and the same “snake of the sleeve” was a major destructive force to ruin Pakistan’s economy and put the masses under unbearable price-hike.