Islamabad : Toeing the line of the prime minister , Shahbaz Sharif , the Petroleum Division on Thursday night issued an official statement to increase the rates of petroleum products once again.
As per new rates , petrol and diesel (HSD) prices soared by Rs 6.51 and Rs 19.36 per litre respectively. With the current increase petrol and diesel (HSD) rates hit Rs 400 mark a litre for the end buyers.
A day before , prime minister , Shahbaz Sharif , had told this cabinet that since crude oil rates were going skyrocket there is compelling pressure on the government to adjust the increase in the international market.
As tension between the United State and Iran remains high in the Middle East (ME),continuous surge in the crude oil prices have posed serious threat to the weak economies like Pakistan. If the government does not pass on the impact of the ME conflict to the end buyers it will have devastating impact on the national economy and its not going to work for a long duration and if the real impact of the increase in the crude prices in the global market is passed on to the end consumers its going to add unbearable burden on the people who are already reeling under killing inflation in the country.
Undoubtedly , the government is in a difficult position in the fall out of the ME crisis and volatility in the oil market. However , its decision-makers seem interested in passing on entire burden of the oil crisis on the masses rather than making corrections in the governance system. The government instead burdening the poor and low income by passing on the entire impact of oil crisis on them should have cut down its unnecessary expenses. It was also necessary to end free petrol and electricity to privileged class to make the poor feel that their rulers are serious to shore up the country from the on-going ME criss.
Unfortunately, the government remains indifferent to the calls being made to end the incentives being enjoyed by the privileged section of the society. The government ‘austerity campaign seems non-starter as the use of the official vehicles is going on as usual and there is no cut in royal protocols being enjoyed by the ruling elite in these hard times.
