In the midst of a burning summer, with the political temperature braced and dark clouds gathering on the economic horizon, the shock wave of rising petrol prices on Thursday was inevitable. The heavy subsidy on petroleum products from 180 to 209 rupees was unsustainable. It was an unbearable shock to ordinary people. Moreover, restoring a country’s economy is considered to be one of the most difficult tasks in an IMF– dominated economy which is even more difficult for a slave and indebted nation like ours. The IMF’s chain of slavery has been going on since time immemorial and its roots have become very deep and strong. However, the price of this slavery had to be paid by a poor person. Rising inflation in the country is creating a terrible famine situation in society. And to control the famine, the independent central bank raises interest rates, which will further increase the budget deficit. To meet this, the government is breaking all previous records of inflation. It is as if the nation that used to pay the price of coronavirus last year will now pay the price of inflation. Now the question arises as to how long the poor will have to pay for the consequences of this destitute economy. People are already on tight budgets, and higher fuel prices can well trigger an inflationary storm. So there is a dire need to tackle the monster of inflation.
