Oil prices’ hike im­pact­ing na­tional econ­omy neg­a­tively

Daily Messenger - - Biz -

IS­LAM­ABAD: Con­tin­u­ous hike of oil prices, es­pe­cially in the last one year by the present gov­ern­ment has been creat­ing neg­a­tive im­pact on the na­tional econ­omy.

Ac­cord­ing to of­fi­cial sources, the petrol prices were Rs. 66.27 per lit­ter at the start of 2017 and since then the gov­ern­ment, in­stead of pro­vid­ing any re­lief to the con­sumers due to re­duc­tion of prices at the global level, has been reg­u­larly in­creas­ing the prices.

The prices of the petrol have been re­vised by the gov­ern­ment and since Novem­ber 1st, the petrol is be­ing sold at a rate of Rs. 75.99 per lit­ter that in­di­cates an in­crease of ten ru­pees in just one year.

Since Jan­uary 2017, the gov­ern­ment has been in­creas­ing the prices of the petroleum prod­ucts ex­cept pro­vid­ing a re­lief for one time in Au­gust when just a mi­nor re­lief of Rs. 1.80 was pro­vided to the con­sumers.

As the petroleum prices, di­rectly re­lated to the prices of trans­port, there­fore, in this one year, the trans­port rates have been in­creased more than ten per­cent caus­ing a bur­den on the peo­ple es­pe­cially on the mid­dle and lower mid­dle class who used to travel through pri­vate trans­port.

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