Editorial
Oil crisis handling
Govt needs to make a statement
The air has been thick with intimation of an imminent oil price hike for quite sometime now. Top economists of the country had observed a few weeks ago that an upward adjustment of fuel price might be inevitable in light of rising international prices and the persistent need for containing budgetary deficits. Which of the petroleum products could be re-priced and which not, in deference to the affordability or lack of it, of the consumers, especially the farmers, were the areas where decision should be made after careful deliberation, so ran their suggestion.Meanwhile, on the heels of 'reported drying up' of filling stations due to short supply of fuel from BPC depots, the Energy Adviser while taking some specific steps, stated that there was sufficient reserve for four months and gave people to understand that the oil price is not going to be increased anytime soon. He dubbed the crisis 'artificial' and warned the dealers against hoarding. The situation eased since Sunday but the crisis doesn't seem over yet. The petrol pump owners are putting it down to short supply from the depots and blaming it out on governmental mismanagement. The facts should speak louder than claims. We have it on good authority, however, that the BPC curtailed normal supply of gasoline products to the dealers for a couple of days prior to Sunday 'misreading' a message from the Energy and Mineral Resources Division (EMRD) which had directed BPC for strengthening monitoring against suspected smuggling of fuel. A lid was put on the weekly supplies from the depots to the filling stations on Saturday in addition to Friday. The Energy Advisor and the Finance Minister are speaking in different voices. Hot on the heels of the advisor saying that there was no possibility of an immediate price hike, the minister has stated that a decision about oil pricing will be taken inside of a week. The point we want to hammer is that the entire situation has been handled in such a way by the government that it fuelled all sorts of speculation and restiveness in the marketplace. It was a sure invitation to hoarding. Inconvenience of the consumers, however, continues. We urge the government to clear the air of all confusion and uncertainty by issuing a statement sooner than later.
|
|
