NAWAIWAQT GROUP

    
    

 
 
 
A good step but...
 
July 01, 2012
 
 

The government’s stated goal of dedicating this last budget to the welfare of the poor is somewhat manifest from a reported Finance Ministry decision to decrease petroleum product prices. Petrol’s price has been cut down by 5.20 percent and diesel largely used in heavy vehicles by  2.48 percent. The domestic users of gas also have been given a relief. This is, however, against the backdrop of constant increases effected during the past four years. Decrease in prices can only prove effective when it actually changes the market forces. Transporters are not willing to bring down the fares which indicates a lack of governmental check on them. If the government is truly sincere, it should not merely bring down the prices but see to it that its positive impact is registered on the market.

The industrial sector however doesn’t have much to cheer over since gas charges for it have been raised by 10.3 percent. This certainly is not going to prove good for the economy that is already in the doldrums.

 
 
on epaper page 6
 
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