POL price hike... By Rafi
05 September, 2012
The latest price hike in the POL products- third in one month, is another bombshell on the already depleted economy of Pakistan's citizens. It is disappointing that the authorities do not realise that the rise in transportation charges caused by increase in the price of petrol, diesel and CNG upsets the price structure of all kinds of consumer goods, adding to miseries of the common man. Although the traders and transporters associations and citizens of Pakistan are protesting against the rise and demanding its immediate withdrawal, no immediate relief is expected. The Chairman of All Karachi Tajir Ittehad has blamed the government for increasing the prices 'to fulfill their own expenses' without bothering about the people's sufferings. The facts mentioned below will prove the point.
According to a press report the Pakistan Petroleum Ltd (PPL) made a profit of Rs. 40.9 billion during the financial year 2011-12. The fabulous amount of profit is surely in addition to a similarly high sum (said to be Rs.26 per litre) which goes into the government's kitty as tax. With such high gains from the sale of POL, the periodical raise in the retail price is tantamount to fleecing the people to the hilt. The huge amount of profit which the government, its agents and distributors make should be able to absorb any rise in the item's import price.