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WEEKLY
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| PM stopped raise in kerosene prices |
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Saturday, April 19, 2008
By our correspondent
ISLAMABAD: While the government was constrained to increase the prices of five petroleum products, it was on the special instructions of Prime Minister Syed Yousuf Raza Gilani that the price of kerosene oil was kept at the same level, since it directly affected the common man.
According to official announcement of the Prime Minister House, since kerosene is the only product being used by the less privileged and the poor section of the society, the prime minister directed that the government should bear the cost of subsidy to the tune of Rs 22.54 per litre and this, it was realised, would have substantial impact on the national exchequer.
Sources said that the intention was to minimise the burden on the poor and help them meet their daily needs under the present economic pressure. Since its inception, the new democratic government inherited grave economic problems and the prime minister was very much concerned about the inflationary pressures, which have been directly affecting the poor segments.
In this regard, he specifically asked all the relevant ministries and organisations, including the provincial governments to devise a comprehensive strategy to effectively check the process of price hike.
The whole objective of good governance the prime minister felt was to give relief to the common man and help them to live a respectable and comfortable life. It may be mentioned that the adjustment in the prices of petroleum products was made because the prices of oil in the international market jumped to all time high at $115.15 per barrel, which would not only seriously affect the economy of Pakistan but the entire developing world as well.
The government, despite facing economic challenges, has been subsidising the increase in the oil prices which should have been adjusted gradually ever since the sharp upward trend since last year. The present adjustment was absolutely essential to reduce the pressure on the balance of payments being imposed through subsidy.
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briefs...
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ISSN 1563-9479 
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