PRIME Minister Imran Khan has done well by not passing on the latest increase in the prices of petroleum products to the people of Pakistan as this would have added to their woes.
According to the official announcement made by the Ministry of Finance here on Monday stating that the petroleum products are showing substantial increase in the international market and presently trading at the highest level since 2014.
Prime Minister Imran Khan said that the government would bear the losses as petroleum product prices are increasing in the international market but the government wants to save the people from inflation.
The decision of the Prime Minister is understandable as OGRA had recommended a hefty of up to Rs.16.79 per litre increase in prices of POL products and such a big increase in one go would have played havoc with the family budgets.
The inflation is already touching heights due to the taxation measures included in the recently passed mini-budget and people are not in a position to bear more burden, especially when the Government is not providing any relief to the fixed income groups.
We have been emphasizing in these columns that every increase in prices enhances the profit margin of industrialists, businessmen and transporters while professionals also hike the rates of their services citing the fresh wave of inflation.
Only the fixed income groups suffer and there was an urgent need for announcement of meaningful relief for them.
The Government should also realize that its economic policies are not being viewed favourably by a majority of the population mainly because of inflationary trends.
A latest opinion poll has found that every seven out of ten Pakistanis disapprove of the economic policies of the Government while 69% are not satisfied with the overall policies governing the country.
The Government would be shortly entering in the last year of its rule and its popularity would be at stake if it failed to find a solution to the challenge of inflation.
