Sunday, December 07, 2008
By Nisar Mahmood
PESHAWAR: Public are still to get some relief from the record low in price of crude oil in the international market that has come down to $42 per barrel.
Oil prices world-wide have come down by almost 200 per cent as compared to the April-July rates, but in Pakistan neither the decrease was made according to the international market level nor were the prices of daily use commodities brought down with the same ratio.
During the last eight months oil prices in the country recorded upward trend four times.
In April the price of the petrol was Rs65.81, on May 1 and it jumped to Rs68.81, on June 29 while its price was raised to 75.69 and on July 20 the price was again hiked to 86.66.
Though the POL prices have been cut, but not at the ratio of the international market. Rates of consumer products were also not reduced accordingly. People are not getting the benefits of the reduction in the prices of POL. If the government is sincere to them it should drastically cut down diesel prices to pass on the benefit to general public, many believe.
The government has also failed to bring public transport fares down with the ratio of increase in the prices of POL. Transporters had raised fares by manifold, but they did not cut the fares according to decrease in POL prices, said Muhammad Arif, a commuter.
According to Haji Sharafat Ali Mubarak, president Sarhad Chamber of Commerce and Industry (SCCI), the petrol price should come down to Rs40 and diesel to Rs28. He said petrol was being sold at Rs53 when crude oil price in the international market was $55 per barrel and the present disparity in oil prices in Pakistan and other countries of the world was unjust.