Pakistanis are bracing for another round of economic hardship as the country's economic crisis deepens. But in a surprising move, Jamiat Ulema-e-Islam (JUI) Pakistan's Ameer, Hafiz Naeem ur Rehman, has demanded that the government immediately reduce petrol prices to Rs. 225 per liter, a move that could provide much-needed relief to the struggling masses.
Background & Context
Pakistan has been grappling with an economic crisis for several years, with inflation, unemployment, and a crippling debt burden weighing heavily on the country's economy. The situation has been further exacerbated by the global economic downturn, which has led to a significant increase in oil prices.
According to experts, the global oil market has seen a significant decline in prices since the Russia-Ukraine conflict subsided, but the benefits have not trickled down to the Pakistani people. Instead, the government has continued to impose high taxes and levies on petroleum products, making them even more expensive for the average citizen.
Key Details
In a press conference, Hafiz Naeem ur Rehman emphasized that the global oil market has returned to pre-conflict levels, with prices stabilizing at around $60 per barrel. However, the Pakistani government continues to burden the people with high petrol prices, which are currently hovering around Rs. 250 per liter.
"The government should immediately reduce petrol prices to Rs. 225 per liter and prioritize the interests of the people rather than the companies," Hafiz Naeem ur Rehman demanded. "The petroleum levy is a regressive tax that disproportionately affects the poor and middle-class citizens. It is a tax on the tax-payers, and it should be abolished."
Hafiz Naeem ur Rehman also called for a reduction in transportation costs and essential commodities prices, emphasizing that the government should focus on providing relief to the people rather than protecting the interests of the corporations.
What Experts Say
Analysts point out that the JUI's demand for a reduction in petrol prices is a timely intervention, given the current economic situation in the country. "The government has been collecting a significant amount of revenue from petroleum levies, but the benefits have not trickled down to the people," said Dr. Shahid Hasan, an economist at the Lahore University of Management Sciences. "Reducing petrol prices would not only provide relief to the people but also boost economic activity and stimulate growth."
Another expert, Dr. Sajid Amin, a leading economist and policy analyst, added that the government's approach to taxation has been regressive and unfair. "The petroleum levy is a regressive tax that affects the poor and middle-class citizens the most. It is a tax on the tax-payers, and it should be abolished. The government should focus on providing relief to the people rather than protecting the interests of the corporations."
Key Takeaways
- The global oil market has returned to pre-conflict levels, with prices stabilizing at around $60 per barrel.
- The Pakistani government continues to burden the people with high petrol prices, which are currently hovering around Rs. 250 per liter.
- Hafiz Naeem ur Rehman demands that the government immediately reduce petrol prices to Rs. 225 per liter and prioritize the interests of the people rather than the companies.
- The petroleum levy is a regressive tax that disproportionately affects the poor and middle-class citizens and should be abolished.
What This Means For You
For the average Pakistani, a reduction in petrol prices would mean a significant decrease in transportation costs and a boost to their purchasing power. It would also provide much-needed relief to the struggling masses, who have been bearing the brunt of the economic crisis.
"If the government reduces petrol prices to Rs. 225 per liter, it would be a huge relief for the people," said Muhammad Ali, a small businessman from Lahore. "It would not only reduce our transportation costs but also boost our purchasing power and stimulate economic activity."
As the economic crisis deepens, it is imperative that the government takes bold steps to provide relief to the people. Reducing petrol prices to Rs. 225 per liter would be a significant step in the right direction, and it would be a welcome respite for the struggling masses.
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