Update: Jul 18, 2021 8:28 AM STI
Islamabad [Pakistan], July 18 (ANI): The Pakistan People’s Party (PPP) criticized the ruling Imran Khan government for raising the prices of oil and commodities in the country.
Former Senate Speaker Senator Mian Raza Rabbani said Pakistan’s Tehreek-e-Insaf government was giving concessions to the elite by removing subsidies from the working and poor class, The News International reported.
“The government has given concessions to the construction mafia, stock exchanges, the auto industry and big business to promote crony capitalism,” he said.
He added that the government, on the instructions of international funding agencies, is pushing the working classes to the wall. “Such a situation is ripe for massive social upheaval,” he said. By raising oil prices near Eid, he said, the federal government has overwhelmed the common man.
Senator Mian Raza Rabbani said that the Economic Coordination Committee (ECC) on Friday, which did not have a quorum because only two out of 14 members were present, decided to increase the prices of ghee in utility stores in nearly 53% from Rs 170 to Rs 260 per kg and floor wheat prices of around 19% to Rs 950 per 20 kg bag from its current rate of Rs 800. Likewise, he said that sugar prices have been increased from the current rate of Rs 68 to Rs 85 per kg with a 20 percent increase.
News International further reported, citing the senator on July 15, that the government had arbitrarily increased the prices of petroleum products, resulting in a snowballing effect on the prices of vegetables and domestic freight.
Meanwhile, condemning the government for increasing the prices of essential items, PPP Vice President Senator Sherry Rehman said, “Tabahi Sarkar has increased the prices of essential items (wheat, sugar and edible oil) 53% while weekly inflation fluctuates. about 12.5%. Instead of providing relief before Eid, the government has dropped an inflation bomb on the population, while the mafias are making billions.
She said the current government did not know how to run the country. “Utility stores introduced by the late Zulfikar Ali Bhutto were a primary source of subsidized items, but under Tabahi Sarkar these stores sell unaffordable goods while the ruling government mafia squeezed Rs 230 billion from the sugar crisis “, she added.
According to the World Bank (WB) estimate, poverty in Pakistan fell from 4.4% to 5.4% in 2020, as more than two million people fell below the poverty line.
Using the poverty rate of the lower middle income bracket, the WB estimated that the poverty rate in Pakistan was 39.3% in 2020-2021 and is expected to remain at 39.2% in 2021-2022 and could decline to 37.9% by 2022-2023, The News International reported. (ANI)