Nov 03 , 2015
News
Increase in POL prices not less than economic terrorism, says Asad Umar
OnlineISLAMABAD: Senior leader of PTI Asad Umar on Monday said the government is placing an unprecedented burden on the citizens and crushing economic activity and growth by massive increase in indirect taxation, particularly on petroleum products.
Reacting sharply to the announcement of increase in prices of petrol and diesel by the finance minister, he said in the first four months of this fiscal year the international price of oil has declined by approximately 25 percent, while the government has only passed a relief of less than 4 percent in diesel prices which means that the benefit of more than 20 percent drop in oil prices has been pocketed by the government which is gross injustice to the citizens, farmers and businesses who are already struggling in extremely challenging economic conditions.
He stated, "If the government had passed on the full benefit of the drop in oil prices since beginning of the current fiscal year, the price of diesel would be ten rupees a litre less than announced by the government and if we apply the GST rate which was prevalent when the PML-N government took power, the price of diesel would be almost Rs 18 per litre lower than set by the government right now."
Umar said this massive increase in taxation for a basic commodity like diesel and petrol is equivalent of economic terrorism on the people of Pakistan. It should be noted that diesel is the fuel used in buses and mini buses only, it is also used by the low-income citizens and farmers to run their tube wells and by small businesses to run generators because of the continuing massive load shedding.
It is all the more deplorable being done by the government of the PML N whose leader Nawaz Sharif campaigned on the promise of reducing taxation and making Pakistan a low income tax haven like Hong Kong, he maintained.
He said the PTI will not only oppose this increase in the media and in the national assembly, but will also demonstrate against it on the streets if the government did not take back the increase in tax on petroleum products that it had levied since coming to power without any approval of the National Assembly.
Courtesy www.dailytimes.com.pk