With the increase in the price of petroleum products, the government has no choice but to accept IMF conditions.
The conditions of the IMF do not include only inflation or taxation but also reduction of expenditure. Why does the government not take a bold decision to reduce expenditure?
These different views expressed by the representatives of the business community while reacting to the increase in the prices of petroleum products.
The former president of FPCCI, Zakaria Usman, expresses his reaction to the increase in the prices of petroleum products. He says that this is not good news for the people. But for the country now, apart from accepting the conditions of the IMF.
No choice, the economy will come out of the crisis only by leaving the market rate of the dollar and increasing the PDL on petrol and diesel. The friendly countries and the UN will give us dollars when the IMF clears us.
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The price of petrol is linked to the dollar, the price of oil has also increased by 11% in the global market. No choice but to accept IMF conditions.
He says that 3 to 5 months are definitely very difficult for the people. However, we do not have nationalism, people have stored dollars in their homes. They will come out when the value of the dollar starts coming down. The need at this time is that the government should satisfy the people.
In the future, such a situation will save lives when the IMF will be called bye-bye. He suggests that the government should open regional trade to end inflation. Tomatoes and potatoes have become cheaper. Onions may become cheaper. If the government from India allows the import of onions,. It will import oil from Iran under butter trade for cheap oil.