Daily Times

Caretaker Federal Minister of Commerce Gohar Ijaz’s announcement has sparked anticipation among the public that he will reveal a piece of good news on October 1, specifically concerning the price of petrol. He attributes it to the government’s actions, which, according to him, have resulted in a decrease in the value of the dollar. He says that if our currency stabilizes, we can expect a drop in prices, potentially leading to lower gasoline costs.

However, it’s crucial to learn about the context surrounding this announcement. Firstly, Caretaker Federal Minister for Privatization Fawad Hasan Fawad says that the privatization of electricity distribution companies is a top priority. The primary constitutional mandate of a caretaker government is to ensure the transparent conduct of elections, not to take up long-term policy matters like privatization. Their temporary tenure, lasting just 90 days, is designed solely to oversee the country’s affairs until an elected government takes the helm. As such, caretaker administrations are not accountable for long-term policy decisions typically reserved for elected officials.

Turning back to Minister Ijaz’s promise of good news, while it appears promising on the surface, it’s essential to examine the track record of petroleum pricing in the country. Historically, the government has been quick to raise prices in response to global fluctuations in oil prices but has been less enthusiastic about reducing them when oil prices fall. Such reductions, when they do occur, often amount to mere pennies or a few rupees. In reality, these minimal reductions hardly benefit the average citizen; they are akin to adding a pinch of salt to a mountain of flour.

The government currently imposes a slew of taxes on petroleum products. Paradoxically, global petroleum prices are currently at a relatively low ebb. The government purchases petroleum at these favorable rates but sells it to the public at much higher prices, reaping significant profits. This price disparity is often attributed to stringent IMF conditions.

If the caretaker government genuinely intends to bring good news to the people, it should consider substantial relief measures. This could be achieved by aligning domestic petroleum prices with international market rates. Such a move would genuinely benefit the populace, fostering a sense of contentment and satisfaction. In essence, it’s time for actions to match words and for the government to prioritize the well-being of its citizens over profit margins. *