Massive relief

TRUE to its commitments, the Federal Government offered massive relief to consumers at the first available opportunity after signing of the historic Iran-US peace accord as it reduced price of petrol by Rs. 74 a litre and that of diesel by Rs. 67 a litre on Friday in a move widely hailed by all segments of the society. In a statement, Prime Minister Shehbaz Sharif said in view of the improvement in the regional economic situation and the decline in oil prices, the benefit is being immediately passed on to the public. In a related development, the PM has approved termination of all ‘fuel conservation and additional austerity measures’ notified by the Cabinet Division from time to time since March 9, except for market timings specified in notifications of June 3 and 10, which shall remain applicable. There can be no denying the fact that the war in the neighbourhood presented enormous challenges to the country but it is also a fact that people of Pakistan bore the brunt of the conflict as the government instantly raised the price of fuel by Rs. 55 a litre on start of the war and jacked up the prices to a pinnacle of Rs. 458.4 per litre, putting enormous burden on the common man. It was in this backdrop that the Prime Minister acknowledged that the government fully understood the difficulties faced by the people, who had shown remarkable patience and resilience during these challenging times. He also pointed out that the federal government utilized Rs129 billion, saved through development budget adjustments and austerity measures, to provide relief to people across the country and cushion them from the sharp rise in fuel prices. However, no one knows for sure the real benefits of these measures as transporters increased fares and transportation charges immensely and manufacturers jacked up prices of their products even disproportionately taking advantage of the uncertain and fluid situation and weak governance. This is also confirmed by short-term inflation, measured b