Benefits of falling oil price have not yet been passed on to the consumers
KARACHI: The crude oil price has further plunged down by $2, making it $45 a barrel in the international market. Not more than six months ago, the per barrel price of crude oil was between $100 and $110. However, the benefits of falling oil price have not yet been passed on to the consumers and there has been no significant impact on the prices of goods and services in Pakistan.
In order to provide relief to the common people, the federal and provincial governments should set up a body, or frame a set of laws to regulate the prices of goods and services. This will provide the much needed relief to the ordinary people.
Syed Aqib Ali Shah
Published in The Express Tribune, January 15th, 2015.
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