Karachi – For a comprehensive and efficient mechanism to boost the economic growth of the country, we have to eradicate the drivers of areas of concern on immediate basis, most commonly bringing relief in the Energy Tariff, reduce Petroleum Prices and shrink the Interest Rates, said ateeq ur rehman (economic & financial analyst).
The raise in the Petroleum and High Speed Diesel prices has cascading effects on Transport cost whether it is Public or Goods Transport. The cost of Public Transport has doubled as it has doubled the cost of Goods Transport. Under the stress of mulling such a cost of commuting for a common man, it has become not only difficult but impossible for him. We see that a larger scale of a common man has decided to park their Motorcycles in their houses for being not affordable anymore for them. Moreover, owing to the mounting Logistics, the cost of goods has made it difficult for a common man rather impossible for purchase of Fruits or Vegetables for food for family.
He added that again the Rikshaws – a middle men’s source of traveling — have become tough due to high cost of fare by the rise in petroleum prices, consequently affecting both the Rikshaw drivers and travelers. Most of the Rikshaws are standing idle for want of passengers, who (now) cannot afford to hire a Rikshaw, anymore. Further under the circumstances, Online Taxis or Bike Rider Services are facing great difficulty, too. Thus there is no appropriate option of these problems.
We are the highest tax paid electricity consumers in the world facing huge increase in Electricity Tariff. Now, the current raise in petroleum prices will again become a source of another “Fuel Cost Adjustment (FCA) by the Electricity Producers and Disturbers”. The continuing havoc of electricity tariff for a household and industry is frustrating, more catastrophe or calamity said ateeq.
The reduction in petroleum prices is highly appreciable and appropriate .
