Fuel price and kidnapped chocolates – this week in Pakistan’s business and economics twitterverse

One thing that would have been unexpected a few months ago would have been that the same week a Rs 30 hike in petrol prices was announced, the greatest outrage for the people of Twitteristan would have been chocolates held back by customs. But that was the case last week, when people were in fact relieved that fuel prices were increased and that the country was not hurtling towards default as it was up until recently. Let us hope this little episode allows people to no longer politicize petrol prices which are a result of international market dynamics that we do not have much to do with. Fingers crossed. All this and more in this week’s social media roundup. 

 

If you think increasing fuel prices was a difficult decision, deciding how to help the income segment most impacted by the 20% rise in fuel prices. The government needs to act fast before inflation hits and purchasing power is wiped out. 

 

Commodity price hikes are not bombs especially when they’re not out of choice. Fuel prices shouldn’t even be up for debate. They should be deregulated. There should also be public transport so that people aren’t impacted severely when prices rise.

 

If you’re annoyed your khaipiya was held back at customs, just know he was held back for smuggling. But yeah, bans create grey economies. In a country where the informal economy is roughly as big as the documented one, why create more distortions?

 

Do you need anymore reasons to understand why banistan isn’t the right state of mind to be in. 

 

Digital safety is as important as physical safety in today’s day in age. The existing government officials and former officials need to ensure they are safe online.

 

Can we stop with the crowdsourcing? Wake up everyone.

 

Repetitive but let’s bomb the term petrol bomb.

2 COMMENTS

  1. Pakistan has many options to import Russian Crude – IF IT WANTS (as refined fuels are covered in above)

    No Pakistan PSU will import, the crude – as it may face sanctions

    So – only a Private refiner, will import

    Next Problem is payment.With the Moody’s love note,Pakistan Bank LCs may need to be confirmed by US/EU/Asian banks

    No US/EU bank will confirm a Habib LC to import Russian Crude.Even if CCB or Bank of China in HK or Singa or Shanghai confirms the LC – the US/EU might block the ship in high seas.
    Even if the flag is Chinese – the US Navy might block it – as the consignor is Russia,and Consignee Is Pakistan – and PRC is not involved.

    In any case,US/EU Banks will use SWIFT – which can choke off the LC any time

    SOLUTION

    Use a Chinese SOE Commodity trader,to import the Russian Crude – so the consignee is PRC – and so,no NATO SHIP will block the ship.It will carry Chinese Flags.

    On the High Seas,the Chinese Consignee,will sell the cargo on high seas,to Pakistan.

    Now the Payment.Habib bank will issue a Transferable and Divisible LC to the Chinese trader – who will transfer it to Russia.The LC will be in YUAN ! Russia will get YUAN,via CIPS,and the LC will be retired or negotiated in China,in Yuan,and so,Pakistan will remit Yuan – so no impact on USD/PKR.

    RUSSIA NEEDS YUAN – AS CHINA IS THE ONLY NATION,WHICH CAN STAND UP TO THE US/EU,AND SUPPLY ARMS,ORDINANCE,FOOD,PHARMA,SEMICONDUCTORS,RARE EARTHS ETC. TO RUSSIA – IN THESE TIMES.SO RUSSIA HAS AN IMMEDIATE USE,FOR THE YUAN !

    IT IS A WIN-WIN-WIN FOR PAKISTAN-RUSSIA AND CHINA !

    OIL HAS CEMENTED PAKISTAN-RUSSIA AND CHINA ! dindooohindoo

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