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Petrol is on fire !
submitted 6 months 23 days 7 hours ago by: amersarfraz : 17 comments
The government has once again increased the petrol and diesel prices by Rs.3 per litre. So effective May 1st (i.e. Today), you would be burning Rs.68.81 for every litre of petrol and Rs.44.59 for every litre of diesel that you put in your damn car. So be careful with your fuel tanks !
The consolation is that OGRA (Oil and Gas Regulatory Authority) had put forward a recommendation for an increase of Rs.8 per litre (minimum), however, the government, showing its every so soft corner for the public, has just passed on a hike of Rs.3 (imposition of which is not far from happening).
So please, if anyone can recommend a good sports bicycle, I am definitely a buyer. Just wish this city was a bit less chaotic and more breathable.
Comments
Boss the moment you will buy a bicycle, government will start charging for the air fill in addition to putting import duties on the purchase of this item of "luxury".
Take Care
Dr.Irfan Zafar
Happening worldwide so rather inavoidable.
Yes you are right. However the developed nations will sustain it but for the under-developed countries, the plight of the poor will certainly increase. Let's hope for some good.
Take Care
Dr.Irfan Zafar
@ IOLA
You know the consumer price of Petrol and Diesel has a large chunk of Government Taxes, so the price to some extent is controllable. All that needs to be done is sharing of the burden through subsidies or lower taxes.
Just simple maths. Reduce the Army budget from 60% to 10%, prosparity will follow. Their is no other way out of this mess.
Take Care
Dr.Irfan Zafar
Yes AYG I know.
Irfan,
Frederick the Great: ' Don't forget your great guns, which are the most respectable arguments for the rights of kings.'
With reference to taxes, Pakistanis pay less than 10% of their earning in taxes so why is all the relief supposed to come to us?
In the west 30-40% of the income goes in taxes. So there that expectation would be realistic, not in this scenario.
And unfortunately that 10% tax is given by the middle class. The higher class does not pay any tax. Do see the Income/Property tax return statements of the high ups....most of them have declared themselves as broke.
To add to it, indirect taxation is imposed on the poor in terms of GST etc on many items of use.
Take Care
Dr.Irfan Zafar
With reference to taxes, Pakistanis pay less than 10% of their earning
in taxes so why is all the relief supposed to come to us? - IOLA
"And unfortunately that 10% tax is given by the middle class." - IrfanZafar
The middle and lower middle class evade taxes because they don't see the benefit coming out of it. The real culprits are the big fish. If only they are made to pay the due taxes (which by no calculation is less than 25%), and these funds so generated are transparently spent on public projects, no issue will remain unaddressed.
Taxes don't amount to anything in Pakistan. If the lower class doesn't pay income tax, they rightly don't do so because they just don't fall in that bracket on which that tax is/should be levied. Tax exemption, you know.
Isn't it already bad enough enough for them paying GST and all those overcharging in the electricity and gas bills?
Again with the inequal distribution of wealth in the economy these issues rise. The responsibility is not shared by those better off than the others.
On the other hand, if you talk about the need to tax the upper class more, that is something already prevalent due to progressive taxes. So no issue there. Unfortunately, more wealth amasses there than elsewhere.
Furthermore, if there were transparency and accountability, there would
be certainly no issue left to talk about here. In full agreement with
Amer on that. Do we really have an Income Tax Department? Do we have a judiciary supporting them?
I actually think that if they had been successful in having the system of Zakat established this divide could have been gradually bridged. It is a highly effective approach to that end.
Too many things are missing for one to comment upon. One is lost in what to say and what to leave.
Petrol is still too cheap. The world has less than 30 years worth of oil left. It should be trading at a higher price than gold. Only then will an effort be made to look for sustainable, alternative energy sources
Dare to differ with the Maestro.
http://en.wikipedia.org/wiki/Oil_reserves
The link gives data that proves otherwise. Will last longer. I have reasons to believe that not only the search for other oil reserves has begun but that substitutes are also being searched for since quite some time by more technologically advanced nations.
I am more concerned about water resources getting depleted.
The world currently uses 37 BILLION barrels of oil per year. 25% of this is consumed by USA. China and India's consumption will explode exponentially in the next decade. Factor in the fact that most nations over state their reserves and you can safely conclude that things are not as rosy as they seem.
This explains the current conflicts as the global powers try to leverage their military might to control oil reserves in the Arctic, Chechnya, Sudan, Gulf region, Indonesia, Azerbaijan, etc.
I too would be only too happy to let the next gerneration inherit this problem; but common sense dictates that the current generation will not be immune to the effects of dwindling oil supplies.
The only way to move forward with research on alternate sources and make those sources viable is to stop artificial pricing of oil. It is a precious, limited commodity and without external influences would, no doubt, trade at ten times the current price.
Additionally little or no research exists to determine the role oil (blood of the earth) plays in its natural environment such as lubricating tectonic plate movements, etc
Water on the other hand is 'renewable' and is all around us. We just need to invest a fraction of what we invest globally on armaments to make this a non issue
Khalifah,
If on on one hand there are nations which overstate their reserves, there are others which understate them too. As the industrial demands and population grows so does the demand for oil and in light of all that your conclusion is quite right.
Also quite obviously it is the cause of conflicts.
However, a mention of the depleting water resources does not necessarily suggest that the perservation of oil resources should not be a cause of concern. I have a tendency to move quickly onto another topic when the answers to one are known to all.
Hmmm, didn't think of the renewable thing. All the solutions are there; just the fact that noone is thinking about all that worries me.
Hope my comment is better understood now.
TAIMUR .
With the increase in prices of petrol and diesil the rent in the Mini -buses have also increased today when i was travelling in a mini bus the bus -conductor asked me to pay 1 more ruppee as the rent per bus stop is now Rs.6/= and it was Rs.5/= before and this is all due to the failed policies of government in the last 8 eight years.
TAIMUR .
AMER FARAZ you should forget about a bike and i advice you to buy a HORSE as horse would run on its own without rolling paddles.
@ Taimur
And I would strongly recommend you start using the edit comment option !