Friday, January 7, 2011

Pakistan Fuel Price Hike Reversed

After severe opposition from other political parties including opposition and coalition partners, Government of Pakistan has announced withdrawal of the recent increase in prices of petroleum products.

Several Economists and the IMF has called this move a mistake and said that Pakistan has to undertake difficult economic reforms for long term economic stability. But they don't seem to understand that Pakistan is going through uncertain times and its a state in Emergency which need help from across the world.

The only solution to this problem seem to be Currency Appreciation versus US Dollar on emergency basis to bridge the gap from international prices. US can of course help Pakistan doing that as it has done with Afghanistan whose currency has appreciated after the US led war.

I am keeping my fingers Crossed!!

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