The joys of election year

With many calling it a bid to regain popularity among the masses ahead of the elections, the government slashed petroleum prices by up to Rs 6.44 per litre and CNG prices by Rs 4.59 per kg on Saturday.
A notification issued by the Oil and Gas Regulatory Authority (OGRA) said petrol price had been reduced by Rs 5.02 per litre, High Octane Blended Component (HOBC) by Rs 6.44 per litre, High Speed Diesel (HSD) Rs 2.48, Light Diesel Oil (LDO) by Rs 2.86, while the price of kerosene oil was cut by Rs 2.54 a litre.
Following the announcement, petrol would now be sold for Rs 84.49 per litre, HOBC for Rs 106.88 per litre, High Speed Diesel at Rs 97.21 per litre, Light Diesel Oil for Rs 83.71 per litre, while new price of kerosene oil would fall to Rs 86.25 per litre.
The new prices would be effective from July 1 (today) following the new mechanism of fortnightly review of prices.
Moreover, price of CNG per kilogramme was slashed by Rs 4.59 for Region 1 and by Rs 4.20 for Region 2. The new price of CNG in Region 1, including Potohar Region, Khyber Pakhtunkhwa and Balochistan would be Rs 77.36 per kg, a 7.7 percent reduction, while CNG would cost Rs 70.63 per kg, an 8.3 percent reduction, in Region 2 that includes Punjab and Sindh.
The government has provided sufficient relief to domestic consumers with a cut in prices of between 18.7 percent and 51.7 percent, while gas price for the industry, power sector, WAPDA and KESC have been increased.
CNG tariff for a hundred units has been slashed from Rs 122.95 to Rs 100, for 200 units, it has been reduced from Rs 245.89 to Rs 200, while it has fallen from Rs 1,015 to Rs 500 for 300 units. The CNG price for the cement sector has been increased by 0.8 percent, while gas price for the fertilizer sector has remained unchanged. OGRA claims that the twin reduction in POL prices in a month came after oil prices fell to $5 a barrel in international market, however, people on the streets were not convinced.
A majority of the population called the decision an election stunt by the incumbent government and an attempt to salvage lost pride. Asked about the CNG price cut, a motorist at a filling station said it was the only thing the government could do in the current circumstances to appease the raging masses. “They have failed to restore order, failed in securing people’s life and property, commodity prices are going through the roof, there is a shortage of almost everything useful and they have even taxed listening to the radio on a cell phone. I am surprised they even bothered lowering the POL/CNG prices, whatever the reason for their global fall was,” he said. “I don’t think they have managed to secure my vote,” he added with a grin. A motorcyclist, Ahmed, at a petrol station said the POL price cut was not a good sign. “With such a drastic cut now, people must get ready for a shocker of a raise in POL prices once the elections are over,” he said. “God help us.” “At last they [rulers] have done something positive,” Shahnaz Waseem, a female commuter said. “I hope it translates into lower prices of everything else as well, as everyone attributes the general rising price level to costly fuel.”