Creeping rise in fuel prices has its effect. Freight rates on grand trunk routes have already shot up by an average 3%-4% month-on-month in the last few days, according to Indian Foundation of Transport Research & Training
Following the announcement by Miftah Ismail, the trade industry slammed the government’s bowing in front of IMF terming it as a calamitous step to intensify the woes of the public. The jump in the prices will also push up the costs of production and would remain unabsorbed by the industry. The cost escalation may end up skyrocketing the prices of daily commodities.
The extra burden on the people would take the country nowhere near stability and would further deepen the socio-economic crisis in the country of 22 million that is already enduring political instability and all-time high inflation. These are not the reforms that the incumbent government vowed before taking the steer of the country. The country and the people were in the need of reduced fuel prices, steeping inflation, improved governance, expenditures cut, and peace in essence.
