Staff Report
ISLAMABAD: Angry over the unprecedented hike in the petrol and diesel prices, the transporters in Pakistan announced on Friday to fully close the transport after Eidul Azha, stating that only 30 per cent of transport would be operated due to Eid holidays.
All Pakistan Public Transport Owners Federation (APPTOF) said that the rising petrol and diesel prices, coupled with high taxes and other charges, crippled the resources of the transporters to operate transport in the country.
They said that there was already a low number of passengers opting for private transport due to rising fares. “If the government cannot reduce the price of diesel, it should abolish taxes,” they demanded.
It is to be noted here that the government made a whopping Rs14.85 per litre increase in the petrol price on Thursday.
The government also imposed a levy of Rs10 per litre on petrol, whereas, a levy of Rs5 had been imposed on High Speed Diesel, Light Diesel and Kerosene Oil.
returns.
He warned that as long as imports continued unabated, the demand for dollars
in the country will continue to increase and the rupee will stay weak.
Governments ignore the ground realities and try to ensure better growth
rate, lower inflation and rupee stability by borrowing but reforms are
ignored which results in a crisis every two to three years.
Shahid Rashid Butt said that the policy of SBP to keep the rupee stable by
selling dollars instead of exports and investments is destructive and has
been followed for decades.
He lamented that IMF has called for several more measures, including
deregulation of petroleum prices, which could delay the repayment of loan
instalments until August, which would have a negative impact on the economy;
therefore the lender should reconsider its demands.
