Islamabad, October 1st, 2021: Slamming the government for the recent increase in petrol prices, Vice President PPP, Senator Sherry Rehman said, “Once again Tabahi Sarkar has dropped a petrol bomb in times of extreme, acute inflation. Petrol prices now stand at Rs127.3 per litre. They had already increased it by Rs 5 per litre on September 15th but now the prices are up again. PTI has the unique reputation of raising fuel prices eight times in one year, leaving most of the country unable to function with such drastic strikes on their disposable incomes ”.
“The prices of kerosene oil and light diesel oil (LDO) have also been increased by Rs7.05 and Rs8.82 per litre, respectively. Now petrol will be sold at Rs127.30 per litre, high speed diesel at Rs122.04 per litre, kerosene oil at Rs99.31 and light diesel oil at Rs99.51 per litre. This is regressive taxation that is crippling the lives of the common woman and man, burdening them with the state’s expenditures and inability to tax the rich,” she added.
Comparing today’s situation with the PPP’s performance, Rehman said, “During our government in 2013, international oil prices were extremely high due to the global financial crisis, yet the price at home was not allowed to surge anywhere close to the tsunami of petroleum prices it has become now. What kind of explanation is this for 8 increases in one year ? That we have become hostage to international prices that have gone up. These price shocks are unsustainable for the people of Pakistan. Only in the last month government has increased Rs9 per litre in the last 15 days and Rs32 per litre in last 3 years”.
“PTIMF is the opposite of what it promised: it does exactly what the IMF says, borrows like no government before and tells people that the good days are here. Other govts have also run IMF programmes but our government was answerable to people and negotiated way better terms,” she added.
Senator Sherry Rehman along with other members of the opposition then walked out in protest as the finance minister was not present in the House despite the opposition specifically seeking his presence after question hour when he answered a few questions .
Discussing the rupee devaluation in her speech , Rehman said, “On September 30th, rupee has touched a record low of 172.50. There has been an exponential devaluation of the rupee since PTI government took over. She said in a statement then that in the last three years the PKR has been devalued by 41.5% and since May it has been devalued by 10.7%. In a rather shocking revelation, Fitch has forecasted that rupee will weaken to 180 by 2022”.
Parliamentary leader of the PPP, Senator Sherry Rehman concluded by saying, “The tsunami of change has become the tsunami of inflation and petrol bombs. Pakistan’s economy is collapsing, poverty and food inflation are on the rise. We are losing international footing by the day”.
