The announcement by the government of a major rise in fuel prices sent a positive signal to markets and led to a significant appreciation in the rupee value. One government leader after another meanwhile made use of the decision to bring home the point that unlike the PTI government, the present administration cares for the masses and is willing to sacrifice its party interests on the altar of the national.
The government knew that the much-needed rise in fuel and power prices was going to have a highly negative impact on the livelihood of millions of common people, who are already finding it hard to make the both ends meet on account of continuously shrinking purchasing power and rising unemployment. Consequently soon after the withdrawal of the hefty subsidy on petroleum, PM Shehbaz Sharif announced a Rs 28 billion relief package for those with monthly income below Rs 40,000. Fourteen million poor families, comprising 85 million people, would be given Rs 2000 per family. Thus roughly one-third of population would benefit from the package. Inflation has remained in double digits for six consecutive months in the country and is going to touch higher levels due to a big rise in fuel prices. An addition of Rs 2,000 a month in the income, or BISP dole, of a family would therefore be considered peanuts by many .
The PM has directed Utility Stores to set the price of a 10 kg sack of flour at Rs 400. This would provide some relief to the poorest who subsist mainly on bread. But the fact that the PM’s efforts to bring down the price of flour have so far met with little success provides one little confidence about the success of the present move. The common man will have to carry a heavy cross till the economy comes out of the doldrums, the wheels of industry pick up speed, exports outpace imports, new jobs are created and the prices graph takes a downward trend. All this is dependent on peace and stability in the county with every government allowed to complete its full tenure without external intervention, be it from the establishment, the courts or extremist networks lurking in the shadows.
