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We are poorer than ever
The sudden rise in the prices of petrol and diesel shows that Pakistan is facing a severe inflation and has to cope with the rules of the International Monetary Fund (IMF). This acts as the sharp knife among the throats of the common people. The steep rise in the suicide rate shows that the common people of Pakistan, who pay the highest taxes, are the ones who suffer the most. The rate of basic amenities will increase with the rise in petroleum prices.
The Ministry of Finance announced the rise in a post on X (previously Twitter) shortly after midnight, bringing the cost of gasoline to Rs.305.36 per litre and the cost of HSD to Rs.311.84 per litre. With the increase in energy prices, prices of many other things will also increase because of the life cycle connected with the fuel.
This vicious, never-ending cycle shows that the currency of Pakistan is devaluing day by day, and the high cost of living makes the poor even poorer. How can we imagine that a person will live a peaceful life with a wage of PKR 30,000? The Bomb of electricity bill was unbearable, but now locals have to bear more.
ARISHA IRSHAD ALI
Karachi
Petrol bomb hits population again
As it is an admitted fact that civilians’ target – in wars across the world- are always condemned by nations. Voices are raised to end the atrocities practiced on masses- men, women and children. But, situation here in Pakistan is quite different now. People are being targeted again and again by petrol and inflation bombs.
They are on roads but there’s no one to listen their cries. Once again petrol price went up. It has crossed 300 per litre. Now prices of essential commodities will go further high. Obviously, public will be the victim of inflation. While rulers will just rule over masses and enjoy their perks.
ASIF MEHMOOD
Attock
Awaiting
IMF’s nod
After three consecutive days of lengthy deliberations on the issue of providing urgent relief to the masses engaged in intense countrywide protests against inflated electricity bills, the interim government concluded that it would not be able to provide any relief to the people without a nod from the International Monetary Fund.
In my post of August 27 posted on Twitter / (‘X’), published in Daily Pakistan Observer on August 28, vis-à-vis the ongoing countrywide mass protests against hiked electricity bills, I, keeping the IMF in mind, had raised a question — do we have a way out of this vicious circle that we are badly entrapped in? My answer was, we don’t — not as long as we are at the mercy of the IMF. My assessment has turned out to be correct. It was reported in the media on August 30, the government has sought IMF’s nod for granting relief in electricity bills to the people.
In response to the request of government of Pakistan, vis-à-vis the issue under reference, the International Monetary Fund (IMF) has formally requested a written plan from Pakistan’s finance ministry following the caretaker government’s proposal to provide relief to power consumers contingent upon the IMF’s approval. In view of the foregoing, the govt wouldn’t be able to announce any relief for the agitating masses in their electricity bills until the IMF receives the plan it has solicited from Pakistan’s finance ministry and accords its approval to the referenced plan.
Would the IMF accord its approval to the plan being submitted to it by Pakistan’s Finance Ministry? How much time would the IMF take to approve the said plan? Would the protesters who are engaged in countrywide protests against inflated electricity bills exercise patience, and put their protests on hold till such time the IMF grants its approval to the plan submitted to it by Pakistan’s finance ministry? We will have to wait and see how things finally shape up in the days to come.
M FAZAL ELAHI
Islamabad
Stable Pakistan
It has been a roller coaster ride for Pakistan in terms of economic and fiscal policies as Pakistan has been flying pretty low on the brink of bankruptcy which had closed a lot of potential doors of opportunities for this beautiful country. Political and economic instability, depreciation of PKR, uncertain foreign relations and lack of investment have hurt Pakistan and Pakistanis more than the dictatorship regimes. People have been victims of trials and tribulations in terms of inflation as it has hardened the salvation for the majority of poor people in Pakistan.
With the foreign investment declined to just a couple of hundred million dollars, the country has little choice but to agree to the terms dictated by the prospective Saudi, Emirati and Qatari investors according to the understanding reached with their governments.
This paves the way for Pakistan to survive on given investment which is handful in terms of eradicating the lack of funding problems, however, it highlights a vulnerability within the economic system as the economic and fiscal future remains blurry why?
Because the financial situation has been unable to fathom a long term economic boom since ages rather leaving Pakistanis with an economic bust every back and forth, hurting the foundation of economic stability.
MAIRAJ KHAN
Lahore
