THERE is no end to the woes of common man as they continue to face the brunt of an unforgiving price hike. Short-term inflation, as measured by the Sensitive Price Index (SPI), surged by a daunting 42.6% in the week ending December 21 on an annual basis. Alarmingly, this marks the sixth consecutive week that the weekly inflation index stood above 41%, painting a grim picture of the financial hardships faced by the common man.
The caretaker government attempted to throw a lifeline to the masses by undertaking a substantial reduction in the prices of petroleum products. Over the last three months, the price of petrol has witnessed a commendable decrease of 64.04 rupees per litre, accompanied by a noteworthy reduction of 52.99 rupees per litre in diesel prices. To put this in perspective, in September, the price of petrol was a staggering 331.38 rupees per litre and diesel stood at 329.18 rupees per litre. Presently, the price of petrol has eased to 267.34 rupees per litre and diesel stands at 276.21 rupees per litre. While the reduction in petroleum prices holds the promise of alleviating the burden on the common man’s pocket, the expected ripple effect on the prices of essential items and services remains elusive. The cost of living, particularly in terms of food items and transport fares, has not seen a corresponding decrease despite the significant drop in fuel prices. This underscores the need for a more comprehensive strategy to ensure that the benefits of reduced petroleum prices reach the intended beneficiaries. The onus of ensuring that the relief reaches the common man does not solely rest on the federal government. Provincial governments play a crucial role in regulating and monitoring prices, ensuring that the benefits of reduced petroleum prices are reflected in the everyday expenses of the people. Provincial authorities must actively engage in price control measures and take swift action against those engaging in profiteering. Price control committees should be activated with full vigour to monitor and regulate prices, ensuring that nobody could rob the pockets of the people.
