THE meeting of the National Price Monitoring Committee (NPMC) has raised an important issue regarding the disconnect between the decreasing petroleum prices and the transport fares. Chaired by Federal Minister for Planning Ahsan Iqbal, the meeting highlighted an undeniable truth: while the government has made commendable strides in reducing fuel prices, these reductions have not been mirrored in transportation fares. This situation calls for immediate and decisive action, rather than mere observation.
The NPMC’s mandate should extend beyond monitoring prices to actively ensuring that the benefits of reduced petroleum costs are passed on to consumers. Observations alone are not enough; they must be accompanied by strategies and implementations that enforce compliance among service providers. Transport fares, a significant component of household expenses, are not merely a reflection of fuel prices but a key factor influencing the overall inflation rate. When transport costs remain inflated despite reductions in fuel prices, the expected relief for consumers is undermined. Provincial governments possess the authority and mechanisms necessary to address this issue effectively. With systems in place ranging from commissioners to magistrates, they are well-equipped to ensure that transport fares align with the current economic realities. It is their responsibility to monitor, regulate, and enforce fare adjustments, making certain that the public benefits from lower transportation costs. While the government deserves praise for its efforts in bringing down inflation to single-digit, it is essential to recognize that sustained progress requires constant vigilance and action. Addressing transportation costs, particularly for goods and commodities, will not only provide immediate relief to consumers but also contribute to a more favourable economic environment. Lower transport fares can directly impact the prices of goods, facilitating a broader reduction in inflation. As for the NPMC, it must shift from a passive observational role to an active enforcement one.
