World Desk, AnyTV, Islamabad
Published by: Harendra Chaudhary
Updated Wed, 02 Mar 2022 02:47 PM IST
Summary
Opposition parties have called it a futile attempt by Imran Khan to save his government. Pakistan Muslim League-Nawaz Secretary Maryam Aurangzeb pointed out that the PTI government had increased petrol price by Rs 70 per liter and electricity duty by Rs 15 per unit. Now a discount of ten and five rupees has been given in it respectively.
The economic package announced by Pakistan Prime Minister Imran Khan in the midst of growing economic trouble in the country is being considered a violation of the conditions of the International Monetary Fund (IMF). Not long ago, the Pakistan Tehreek-e-Insaf (PTI) party government led by Imran Khan had accepted these conditions. But on Monday, Imran announced a reduction of ten rupees in the price of petrol and five rupees per unit in electricity duty. Analysts say that the Prime Minister has taken this step to handle his declining popularity in the country. But this will increase the trouble for Pakistan.
Economists and economic commentators have pointed out that the government was continuously raising petroleum prices in the recent past because of the IMF’s terms. But now suddenly he has reversed his step. Uzair Yunus, director of the Pakistan Initiative branch located at the South Asia Center of the think-tank Atlantic Council, has said – ‘The decision to cut the prices of petrol, diesel and electricity has been taken just before the IMF review meeting. Now the question arises that what will happen in that meeting. The steps that have been taken are completely contrary to what was agreed with the IMF.
Pakistan currency at risk of devaluation
Uzair Yunus has pointed out that the cost of the relief given to the people now will be paid by taking loans. Ultimately the burden of that debt will fall on the common people. Interest will also have to be paid on the loan. At the same time, the risk of devaluation of Pakistan currency has also increased now. He said- These announcements mean that Imran Khan has now openly entered the race for cheap popularity in preparation for the elections.
Imran scared of no-confidence motion
Business journalist Khurram Hussain also said in a tweet – Goodbye IMF, Hello Elections. He said that the government has taken this step at a very bad time. Another journalist, Zarar Khushro, has written that this move will give popularity to the government, but it is not possible to make this relief sustainable. Commentators have also raised the question of who will pay the cost of the burden on the exchequer from this relief. Journalist Asad Ali Tour has written- ‘The cut in the price of fuel and electricity has been done to beat the opposition. This means that the Prime Minister realizes that now the power is going to go out of his hands and whoever comes after him will not be able to maintain the prices at this level due to pressure from the IMF.
Opposition parties have called it a futile attempt by Imran Khan to save his government. Pakistan Muslim League-Nawaz Secretary Maryam Aurangzeb pointed out that the PTI government had increased petrol price by Rs 70 per liter and electricity duty by Rs 15 per unit. Now a discount of Rs.10 and Rs.5 has been given in it respectively. He said – this deduction has not been made keeping in mind the suffering and difficulties of the people. Rather, this step has been taken out of fear of the no-confidence motion being brought by the opposition.
Expansion
The economic package announced by Pakistan Prime Minister Imran Khan in the midst of growing economic trouble in the country is being considered a violation of the conditions of the International Monetary Fund (IMF). Not long ago, the Pakistan Tehreek-e-Insaf (PTI) party government led by Imran Khan had accepted these conditions. But on Monday, Imran announced a reduction of ten rupees in the price of petrol and five rupees per unit in electricity duty. Analysts say that the Prime Minister has taken this step to handle his declining popularity in the country. But this will increase the trouble for Pakistan.
Economists and economic commentators have pointed out that the government was continuously raising petroleum prices in the recent past because of the IMF’s terms. But now suddenly he has reversed his step. Uzair Yunus, director of the Pakistan Initiative branch located at the South Asia Center of the think-tank Atlantic Council, has said – ‘The decision to cut the prices of petrol, diesel and electricity has been taken just before the IMF review meeting. Now the question arises that what will happen in that meeting. The steps that have been taken are completely contrary to what was agreed with the IMF.
Pakistan currency at risk of devaluation
Uzair Yunus has pointed out that the cost of the relief given to the people now will be paid by taking loans. Ultimately the burden of that debt will fall on the common people. Interest will also have to be paid on the loan. At the same time, the risk of devaluation of Pakistan currency has also increased now. He said- These announcements mean that Imran Khan has now openly entered the race for cheap popularity in preparation for the elections.
Imran scared of no-confidence motion
Business journalist Khurram Hussain also said in a tweet – Goodbye IMF, Hello Elections. He said that the government has taken this step at a very bad time. Another journalist, Zarar Khushro, has written that this move will give popularity to the government, but it is not possible to make this relief sustainable. Commentators have also raised the question of who will pay the cost of the burden on the exchequer from this relief. Journalist Asad Ali Tour has written- ‘The cut in the price of fuel and electricity has been done to beat the opposition. This means that the Prime Minister realizes that now the power is going to go out of his hands and whoever comes after him will not be able to maintain the prices at this level due to pressure from the IMF.
Opposition parties have called it a futile attempt by Imran Khan to save his government. Pakistan Muslim League-Nawaz Secretary Maryam Aurangzeb pointed out that the PTI government had increased petrol price by Rs 70 per liter and electricity duty by Rs 15 per unit. Now a discount of Rs.10 and Rs.5 has been given in it respectively. He said – this deduction has not been made keeping in mind the suffering and difficulties of the people. Rather, this step has been taken out of fear of the no-confidence motion being brought by the opposition.