The directive of the Economic Co-ordination Committee (ECC) of the Cabinet to Trading Corporation Pakistan (TCP) to release 0.2 million tons sugar in the market to stabilise prices was widely appreciated by market analysts on Wednesday.
This decision would definitely bring great relief to the general public ahead of the holy month of Ramazan, they observed.
Under the circumstances, to oblige the nation, they said, it is highly expected that the government would not increase oil prices to lessen pressure on public, who are already under pressure because of the rising inflation and unemployment in the country.
Analysts said that the government should continue assimilating the adverse impact of global rising oil prices on domestic consumers and the domestic economy. Hopefully, this would help the economy to grow steadily and save the masses from any extra burden, they said.
Unfortunately, some indications are still not showing positive trends, analysts said, and added that unemployment persists and this is causing main concern among the people. The rise in the oil prices globally is causing sharp increase in payment bills, they added.
As a result of the government's precautionary policies to bring the economy back on track, the economy has shown some signs of recovery but at a very slow pace. To tackle the emerging situation locally, the need of balancing act through a combination of fiscal, monetary and trade policies to contain this trend is imperative.
The rising inflation is a sign that country's economy is taking off and to minimise the nation's burden'.
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