The recent hike in petroleum prices has added to the problems of the masses already suffering due to inflation and political instability. Due to the high cost of doing business in Pakistan, a large number of industrial units have shifted their operations to other countries. The recent decision would force more industrialists to do the same.
High diesel prices will result in higher transportation costs for goods, and adversely impact industries that are dependent on cargo and freight services. The agriculture sector would suffer, too, because diesel is used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery.
These are really the worst times for the people in Pakistan. Unless the government finds new streams of revenue to create fiscal space for subsidies, the public will bear the brunt of soaring inflation.
AHSANULLAH MENGAL
WADH
