Petroleum price clamber a blunder
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Business lobbies operating as gangland
PEW rejects state terror against masses
The Pakistan Economy Watch on Tuesday said recent petroleum price rise is another triumph of powerful business lobbies over interests of already overtaxed and underprivileged masses.
Citizenry reeling under intense financial pressure is being forced to compromise on quality of life without considering the social and political costs of such moves.
“Interests of business mafias are kept supreme ignoring the plight of masses and the fact that people brought government into power,” said Dr. Murtaza Mughal, President Pakistan Economy Watch.
Terming it a blunder, he said that hike in petroleum prices will hurt every segment of society. It will hit export targets, jobs, industrial and agricultural output and increase unintentional bank defaults.
The decision will not only damage overall economic growth but also add to looming food insecurity.
With one of the highest population growth in the world, such short-term decisions may force many of unemployed to find shelter in crimes while youth can develop tendency towards terrorism which can add to political, economic, and social instability, said Dr. Murtaza Mughal.
These flawed policies will hike instances of suicides which have become a regular feature of our society.
“People are not responsible for failures of politicians and deteriorating tax collection mechanism which is tainted by inefficiency, corruption and favouritism,” he said.
Government should not overburden masses by repeated imposition of indirect taxes which amounts to state sponsored terrorism. It should tax wealthy traders and holy cows enjoying unjustified tax relaxations.
Other forces move quickly to grab opportunity if government fails to shoulder responsibility of looking after subjects, Dr. Mughal warned.
