Rising oil prices a threat to millions of households: Minister
Islamabad: [March 03]
Minister for Inter-provincial Coordination, Balochistan Dr. Ruquiya Saeed Hashmi on Thursday said rising oil prices is a threat to millions of households.
Everyone including coalition partners, opposition, and intelligentsia is criticising the move but government seems indifferent to the plight of masses, she observed.
The Minister said that government should have scarified some of its profit for a limited time instead of burdening troubled masses.
Talking to Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW), she said that lack of fiscal discipline and irrational taxation system are big stumbling blocks barring development.
She said indifference on the part of rulers have disappointed masses which can result in unrest. Whole society is facing consequences of faulty priorities, Hashmi added.
At the occasion, Dr. Murtaza Mughal said that government should try alternatives to raise funds with measures like broadening of tax net, equitable taxation and reduction in ever-increasing expanses to counter monthly loss of Rs 5 billion which is result of Middle East and North Africa turmoil.
The recent decision will hurt limping economy that will result in massive unemployment and revenue drop; he said adding that austerity measures would have been a better option.
Dr. Murtaza Mughal said that billions could be saved by appointing heads of state-run corporations on merit. Government should take immediate steps to improve situation lest masses start taking them as enemies, he warned.
He said that the government has helped itself gain unpopularity and provided a chance to opposition to seek intervention. Protests can expand that can have different consequences including mid-term polls, he warned.
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Dr. Murtaza Mughal
Cell: 0321-5157671
President Pakistan Economy Watch
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