Oil and the common man

The recent increase in the price of oil has raised strong outcry from, almost all sectors of the economy except the oil producers themselves who are blessing the government for its most recent act of eliminating poverty from our country. The notion of bringing inflation to an unprecedented level in order to keep control on poverty is a policy that can be very effective in the short run. With people committing mass suicides, the government can proudly claim that the poor are being reduced for the first time in the short history of the country. After the price hike, suppliers cut of supply without warning rendering immense difficulty to the workings of a transport system that is reliant on oil like a 2 year old baby is on his mother. With moral values all going down the drain, petrol pumps showed the extent of their greed by cutting off supply all together in the search for excessive profits. The government’s policy regarding oil fails to satisfy any sensible pattern in relation to the price of oil in the world markets. This points to the existence of external forces that are having a strong say in the workings of the whole system. You don’t have to be a rocket scientist in order to understand the egregious effects of this price hike. Oil is a basic good in this country and is as important as wheat in the eyes of the consumer because of its multifarious use in different sectors of the economy that range the transport to industry. Inflation is likely to display its evil powers in the months to come after the birthday gift it received from the benevolent government of Pakistan