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The Myopia Of Power: Pakistan’s Deepening Economic Crisis

68 0
17.09.2026

Repeated surge in the prices of petroleum products, electricity, gas and other essential items and the lack of popular response against the rising cost of living means 250 million people of Pakistan are unable to raise their effective voice against those who wield power and care less for the plight of common man. It also means surge of myopic approach on the part of power elites who have taken people for granted that they will accept periodic increase in the prices of fuel, gas and electricity without any cogent resistance. Regardless of the implications of Iran-U.S war and crisis in the Middle East, there is no plausible reason on the part of government to review prices of petroleum products on daily basis and enhance the prices of gas and electricity almost every month knowing that 250 million people of Pakistan cannot assert against escalation of such prices which cause lethal impact on their livelihood. Islamabad is oblivious to the fact that the prices of petroleum products, electricity and gas are highest in the region and there is no attempt on the part of government to provide genuine, instead of cosmetic relief, to consumers. Those living in comfort zones are least interested in mitigating the plight of people.

According to a renowned economist Dr. Hafeez Pasha around 50% of Pakistan’s population is now below poverty line and the elites lack the political will to take genuine austerity measures. Merely by announcing some relief to motor cyclists and 800 cc car users on the purchase of petrol will not make any difference because by raising petrol prices to 386 and diesel more than 400 rupees a liter the implications of such an increase are noticeable in escalation in prices of essential items. By going for 4 days a week under the pretext of smart lock down will also not make any difference but will reduce work productivity.

Instead of reducing taxes and petroleum levy the government is increasing prices of fuel on daily basis. But, what is alarming is silence at the popular level because neither there are protests nor demonstrations or major political parties are taking a firm........

© The Friday Times