ISLAMABAD - Pakistan People’s Party Vice President Senator Sherry Rehman yesterday slammed the federal government for hike in petrol price.
The PPP Parliamentary Leader in the Senate said despite a historical dip in international oil prices, the Pakistan Tehrik-e-Insaf-led government had once again increased petrol prices by 2.5-4.6 percent for the third time in 31 days.
“Instead of providing relief to the people in times of economic uncertainty and extreme inflation, the PTI government has dropped another petrol bomb,” she added. Commenting on low international oil prices amid the COVID-19 crisis, the Senator said: “Today, price of crude oil is around $55. During PPP’s government, international crude oil was +$140, yet the situation was nowhere close to what it is now.”
She added: “The recent petrol inquiry report has estimated Rs 250 billion worth of oil smuggling from Iran and numerous other controversial operations. We’ve had no shortage of scams; wheat, sugar, LNG and now the oil scam. All multi-billion dollars scams reflect incompetence, poor decision making & looting.”
The PPP leader said this was the fifth increase in petrol prices in 9 weeks. “It is shocking that the PTI-led government has almost doubled its reliance on petroleum levy as a source of revenue – from 260b of last year to Rs 450b budgeted for this fiscal year. All of the burden is now being passed on to the masses,” said the Senator.
Sherry Rehman s aid Pakistan’s industries were already crippled due to the recent hike in gas prices. “Yesterday, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) rejected the PTI government’s petrol bomb. Moreover, Pakistan’s struggling textile industry contributes 50-60% to the country’s export but has already lost its global textile share by 23%. This is alarming considering that we are the 5th largest cotton producer in the world,” she remarked.
Highlighting the deteriorating state of economy, the Senator said: “Inflation is already highest in the region, public debt is breaking all previous records and the circular debt challenge is becoming bigger by the day. Pakistan’s public debt is piling up at an alarming rate of Rs 13.2 billion per day under PTI govt. A whopping Rs11.6 trillion has been added since 2018. State Bank of Pakistan data puts the public debt figure at Rs 35.8 trillion.”
The PPP Vice President said the federal government had given nothing to the country except extreme inflation and high unemployment in the past two and a half years. “The poor and vulnerable will be hit hard by this petrol price bomb. The PPP rejects this move,” she added.
Meanwhile yesterday, the PPP Parliamentarians invited applications from the aspirants of the party tickets for Senate elections. Secretary General PPPP, Farhatullah Babar said that the aspirants of the party tickets should send their applications addressed to the President PPPP Asif Ali Zardari.
“The application along with a bank draft of Rs 1,00,000 (one lac) against Pakistan People’s Party Parliamentarians, should reach Zardari House Islamabad, House number 8, Street number 19, Sector F-8/2, Islamabad or Bilawal House Karachi by 8th February 2021,” Babar said.
