The snowball effect.
THE 60-rupee increase in the price of petrol has turned it into the most precious commodity in the market these days. This drastic increase in fuel prices is having a devastating impact on the poor and working classes. Prices of other essential commodities, such as cooking oil and electricity, have also skyrocketed, with even the white-collared finding it difficult to make ends meet. The salaried class is now just one step away from sinking into poverty. The people were already finding it extremely difficult to make ends meet, but they are now being crushed under this new wave of inflation.
Moreover, the decision by the government is bound to fuel further inflation, unemployment and poverty. This is already evident in Moody's recent rating for Pakistan, with the credit agency downgrading the country's economy from 'stable' to 'negative'. It is highly unfair to pass on the financial burden of the bad decisions by successive governments to the people, especially if the rising costs make it impossible to...
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