AIRLINK 172.75 Decreased By ▼ -2.98 (-1.7%)
BOP 13.24 Increased By ▲ 0.12 (0.91%)
CNERGY 7.41 Decreased By ▼ -0.13 (-1.72%)
FCCL 43.55 Decreased By ▼ -0.36 (-0.82%)
FFL 14.90 Decreased By ▼ -0.11 (-0.73%)
FLYNG 26.45 Decreased By ▼ -0.45 (-1.67%)
HUBC 129.58 Decreased By ▼ -0.65 (-0.5%)
HUMNL 13.35 Increased By ▲ 0.01 (0.07%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 55.73 Decreased By ▼ -0.30 (-0.54%)
OGDC 212.50 Decreased By ▼ -2.27 (-1.06%)
PACE 5.91 Decreased By ▼ -0.07 (-1.17%)
PAEL 41.14 Increased By ▲ 0.24 (0.59%)
PIAHCLA 16.36 Increased By ▲ 0.04 (0.25%)
PIBTL 9.61 Decreased By ▼ -0.14 (-1.44%)
POWER 11.57 Decreased By ▼ -0.19 (-1.62%)
PPL 178.85 Decreased By ▼ -2.63 (-1.45%)
PRL 33.60 Decreased By ▼ -0.62 (-1.81%)
PTC 22.82 Decreased By ▼ -0.24 (-1.04%)
SEARL 94.30 Decreased By ▼ -1.42 (-1.48%)
SILK 1.17 Increased By ▲ 0.03 (2.63%)
SSGC 35.10 Decreased By ▼ -0.35 (-0.99%)
SYM 15.75 No Change ▼ 0.00 (0%)
TELE 7.82 Decreased By ▼ -0.05 (-0.64%)
TPLP 10.81 Decreased By ▼ -0.17 (-1.55%)
TRG 60.90 Increased By ▲ 0.40 (0.66%)
WAVESAPP 10.76 Decreased By ▼ -0.05 (-0.46%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 12,027 Decreased By -26.7 (-0.22%)
BR30 36,333 Decreased By -134 (-0.37%)
KSE100 113,802 Decreased By -554.4 (-0.48%)
KSE30 35,094 Decreased By -253.2 (-0.72%)

KARACHI: With the removal of fuel price cap and subsidy by government on petroleum by raising its price by Rs 30 per litre, the economy has landed into a very difficult situation so far as economic factors, existing high inflation and day-to-day affairs are concerned, says Ateeq Ur Rehman, an economic and financial analyst.

Under the current circumstances the common man, who uses the existing dilapidated public transport system to commute to and from work, is under extra burden, said Mr Rehman.

Increase in prices of petroleum products has turned a common man’s pain into agony, he said. He is already suffering because he has to make use of a broken public transport system but now he will have to pay extra to continue to use the same poor system.

Further, because of a shortage of RLNG and CNG the rickshaw owners are facing immense difficulty in getting passengers due to the high fare they must charge owing to changes in usage of fuel and high petroleum prices.

He pointed out that road transport associations have started issuing notices about raise in fares by nearly 30 percent, eventually increasing already inflated cost of production, and prices of consumer goods like milk, vegetable, fruit, confectionery, meat, flour, pulses, and eatable oil.

The latest increase in petroleum prices will adversely affect the electricity tariff which will jump massively and this will be like pouring salt on the wounds of the common man, said Mr Rehman.

“We normally have electricity shortfalls and due to extensive heat wave the usage of generator sets is increasing, which will only make the burden on common people unbearable,” he said.

He also warned of further hike in petroleum prices. “... (T)he logistics and supply chain is going to be tough, the air and train fares are expected to skyrocket. We cannot ignore the concerns of exporters over this government decision.

“The relief provided to the exporters earlier in the wake of Covid-19 pandemic was a useful tool for them to manage their businesses/ exports in times of turmoil, but what will happen when the cost of doing business and cost of production pushes them out of international competition,” he wondered.

Copyright Business Recorder, 2022

Comments

Comments are closed.