According to news channels, when the nation traditionally starts celebrating Independence Day, our wise government and Ogra have now decided to release their petrol (price regulatory) bombs weekly. Once upon a time such adjustments were customarily made at the time of annual budgets. Then came the era of mini-budgets when it was reduced to a half-yearly, then quarterly, monthly and as of late on a fortnightly basis. This is an unprecedented practice even in developing (or underdeveloped countries) around the world. How can any manufacturer or an industrialist, small or large, be expected to meet its target or commitments in the market with such fluctuations? Another fallout of this menace is the closure of petrol pumps or restricted deliveries to retail customers a day or two before such regulations.
If the government is unable to take effective measures, the day may not be far when these may be sold on an open market or daily basis like grocery items, depending on the supply and demand. It may affect the prices of almost everything. And this, I suppose, is akin to controlled detonation or the shortest way of destroying our already- dilapidated economy.
Karachi, August 9.