DLP Report
PESHAWAR
Adviser to the Khyber Pakhtunkhwa Chief Minister on Finance Muzzammil Aslam has expressed concern over the worsening wheat situation, rising petroleum prices and the increasing cost of living, questioning the federal government’s handling of the economy.
In a statement issued on Friday, Aslam said that despite a bumper wheat harvest this year, Punjab and Sindh had managed to achieve only around 15 per cent of their wheat procurement targets.
He said wheat prices continued to rise in the market while the relevant authorities failed to take timely and effective action. He questioned who had purchased and hoarded large quantities of wheat, alleging that farmers had been denied fair prices for their produce while consumers were forced to pay inflated rates.
He said responsibility should be fixed for what he described as serious negligence in the management of wheat procurement and storage.
The adviser warned that with eight to nine months remaining before the next wheat harvest, Pakistan might have to import wheat, putting additional pressure on the country’s foreign exchange reserves.
Commenting on the latest increase in petroleum prices, Aslam said that if the federal government could not absorb the impact of rising international oil prices, it should at least provide temporary relief by reducing per litre and diesel by Rs56 per litre over the past five days, adding that the hikes had significantly increased the financial burden subjected to repeated inflationary shocks and questioned how the ruling coalition was seeking the petroleum levy, which he said currently generated around Rs1.7 trillion in revenue.
He noted that petrol prices had increased by Rs21 per litre and diesel by Rs56 per litre over the past five days, adding that the hikes had significantly increased the financial burden on the public.
Criticising the federal government’s economic policies, Aslam said people had been subjected to repeated inflationary shocks and questioned how the ruling coalition was seeking public support in the Kashmir elections amid rising prices.
Citing data from the Pakistan Bureau of Statistics, he claimed that over the past year tomato prices had increased by 253 per cent, onions by 81 per cent, wheat flour by 74 per cent, LPG by 46 per cent, petrol and diesel by 32 per cent and electricity tariffs by 23 per cent.
He added that the Sensitive Price Indicator (SPI) had recorded a weekly increase of 0.91 per cent, while annual inflation stood at 9.66 per cent.
