What is in store? According to a Business Recorder news item, a month after a massive increase in POL prices, the Oil and Gas Regulatory Authority (Ogra) has computed up to Rs 8.99 in prices of petroleum products for June. The recommendation of oil and gas regulator is said to have been sent to Petroleum Division for final decision.
Rising POL products' prices will surely spike inflation; these will hike prices of essential commodities and other goods. Moreover, higher inflation will eventually lead State Bank of Pakistan to consider increasing interest rates, although interest rates are already quite high. In other words, rising prices of POL products will definitely hurt the common man. A wave of despair seems to pervade across the country. The PTI government must take some remedial steps.
Comments
Comments are closed.