Former finance minister and Awam Pakistan Party (APP) leader Miftah Ismail sharply criticized the current government’s decision to increase petroleum prices, emphasizing that this move has unfairly shifted the financial burden onto ordinary citizens while primarily benefiting oil companies. Speaking during a televised discussion, he expressed deep concern over the lack of government measures to ease the strain on the public, particularly when fuel prices fluctuate.
Ismail pointed out that the government’s approach to managing fuel prices appears one-sided. He remarked that when prices rise, the public is forced to bear the cost, but when prices fall, the government fails to translate those reductions into tangible relief for consumers. This pattern, he argued, reflects a broader trend where oil companies continue to reap advantages at the expense of the general population.
Delving deeper into the issue, the former finance minister explained that the situation is more complex than it might seem on the surface. He highlighted that the government’s decision to raise taxes on petroleum products came after the Federal Board of Revenue (FBR) fell short of its revenue collection targets. This shortfall compelled the authorities to adjust levies, which in turn impacted fuel prices and ultimately the consumers.
Ismail provided specific figures to illustrate the scale of fuel consumption in the country, noting that petrol sales amount to approximately 230 million litres per week, while diesel sales hover around 150 million litres weekly. He revealed that in the recent adjustments, the government chose to reduce the levy on diesel but simultaneously increased it on petrol. This selective tax policy, he suggested, has further complicated the fuel pricing landscape and its effects on different segments of the market.
Throughout his remarks, Miftah Ismail conveyed a sense of frustration with the government’s handling of economic policies related to petroleum pricing. He questioned the rationale behind placing the financial strain on the public while allowing oil companies to benefit, urging a more balanced and transparent approach. His comments come amid ongoing debates about inflation and economic management in Pakistan, where fuel prices remain a sensitive and impactful issue for millions of citizens.
In summary, Miftah Ismail’s critique sheds light on the challenges faced by the Pakistani public in the wake of rising fuel costs and the government’s fiscal strategies. His observations call for a reassessment of policies to ensure that relief reaches consumers and that economic burdens are shared more equitably, rather than disproportionately falling on ordinary people.
