If there are no savings from petrol, will roads in Balochistan not be built?: Shahid Khaqan Abbasi
Listen to article
Convener of the Awam Pakistan Party and former prime minister Shahid Khaqan Abbasi has criticised the government decisions, questioning the recent decision of linking road development in Balochistan to petroleum savings.
'If there are no savings from petroleum, does that mean roads in Balochistan won't be built?' he asked.
Addressing a press conference in the federal capital, Shahid Khaqan Abbasi strongly criticised the government over two major national issues: the deepening crisis faced by farmers and the lack of relief on petroleum products for the public.
Shahid Khaqan Abbasi stated that farmers across Pakistan are currently enduring severe hardships and are protesting nationwide, yet their grievances are not being addressed.
'Farmers grow wheat, which becomes the nation's flour. If the farmer is in distress, everyone will be affected,' he said.
He pointed out that farmers also faced difficulties in 2023, and in 2024 the government announced it would not purchase wheat at Rs4,000 per 40kg. As a result, farmers were forced to sell at varying prices — some at Rs2,200 and others at Rs2,400 per 40kg.
Shahid Khaqan Abbasi added that with a steep rise in the prices of urea and electricity, farmers are now compelled to sell wheat at Rs2,100 per 40kg — despite their production cost being much higher.
'When the farmer prospers, the country prospers. But today, farmers invest their assets and still can't make a profit.'
He warned that if the situation continues, Pakistan may have to import wheat next year. He demanded that if local markets are not favourable for farmers, they should at least be allowed to export their wheat.
'Today, it costs a farmer Rs3,000 to produce a 40kg bag of wheat, yet they are forced to sell it at Rs2,100. Don't sacrifice farmers for a few votes,' Abbasi said. 'If their income doesn't grow, other sectors like tractors and motorcycles will also be affected.'
He also criticised the Punjab government's incentive scheme, saying it benefits only a few, while the majority of farmers remain deprived.
He called for the government to set a fair wheat support price that benefits both the public and the farming community.
In the second half of the press conference, Shahid Khaqan Abbasi strongly criticised the government for failing to provide relief on petroleum products. He noted that global oil prices have dropped multiple times, yet the government has failed to pass on those savings to the public.
'There was room for a Rs10 reduction in old billing calculations, but people still received no relief,' he said.
Shahid Khaqan Abbasi questioned why fuel prices are passed on to consumers when international markets rise but not when they fall.
'We hear that profits from petroleum will be used to build roads in Balochistan — but if there are no savings, will Balochistan not get roads?' he asked.
He concluded by saying that national progress comes from positive government decisions, but this administration has once again missed an opportunity to provide relief to the public.
Previously, Prime Minister Shehbaz Sharif announced that instead of passing on the relief of reduced oil prices in international market to the consumers, the government would use the saved money for the reconstruction of the N-25 highway and completion of Phase-II of the Kachhi Canal project in Balochistan.
The prime minister made the announcement while chairing the federal cabinet meeting, where he declared the transformation of the N-25, known infamously as the "deadly road", into a motorway-standard highway.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
2 days ago
- Express Tribune
Seasonal butchers on streets with knives, cleavers
Citizens across the city are finding it difficult to get professional butchers to perform the Sunnah of Hazrat Ibrahim (AS). Professional butchers have increased their rates by 30 to 50 per cent this year. Babu Qureshi, a professional butcher from Liaquatabad, explained that the rates for slaughtering animals vary depending on the area and the weight or size of the animal. He noted that professional butchers typically stop taking bookings three days before Eidul Azha. This year, the minimum charge for slaughtering a large, lighter-weight animal on the first day of Eid ranges from Rs20,000 to Rs30,000 and above. On the second day, the rate drops to around Rs18,000, and on the third day, it decreases further to approximately Rs15,000. Rates for heavier animals with excess weight are negotiated before the slaughtering. Professional butchers have taken bookings for multiple animals at the neighbourhood level instead of single animals. Last year, professional butchers charged Rs15,000 to Rs25,000 or more for slaughtering a large animal. This year, the rates for goats and sheep range from Rs8,000 to Rs15,000. On the second and third days, the rates for small animals decrease by 30 to 50 per cent. Qureshi added that professional butchers have prioritised bookings in upscale neighbourhoods where compensation is generally higher. In contrast, many middle- and lower-income areas are turning to seasonal butchers due to the limited availability of skilled professionals. Seasonal butchers-who work on a daily wage basis and take up butchery only during Eid-have stepped in to fill the gap. They offer their services at 30 to 50 per cent lower rates than the professional butchers. These seasonal butchers often work in groups and are more in demand in middle-class areas, where they get better wages. Rush for sharpening People are seen purchasing new tools and getting the old ones sharpened for the preparation of meat after the slaughter. As a result, shops sharpening knives and cleavers are overloaded with huge footfall of citizens. At Al-Karam Square, Mohsin Ali, the owner of a shop that sells and sharpens such tools, said that a wide variety of knives, cleavers (Bugdah) and skewers are in great demand. The prices of new tools for household use have increased by Rs100 to Rs400. Different types of knives are sold for Rs400 to Rs2,500 or more, while the price of a Bugdah ranges from Rs800 to Rs3,000. Most people opt to sharpen their old tools, with sharpening services costing Rs150 to Rs200 per tool. Some individuals purchase tools worth up to Rs3,000 for preparing sacrificial meat. Slaughtering accessories fly off shelves Exponential quantities of date palm mats and baskets were sold for Eidul Azha sacrifice purposes, with vendors reporting brisk sales in the days leading up to the festival. Amir Uddin, a vendor selling mats, baskets, and wooden chopping blocks at Gharibabad, explained that date palm mats are typically used to spread sacrificial meat, while baskets are used for distributing it. This year, on Eid, mats of different sizes were sold for Rs500 to Rs1,000, and baskets were sold for Rs200 to Rs400. Meanwhile, chopping blocks were sold at Rs100 per kilogram, with the smallest ones selling for Rs500 to Rs800. These items are made of wood and are essential for meat distribution and storage. People who perform the Sunnah of sacrifice purchase these items to facilitate the distribution of meat among family, friends, and the needy. Temporary stalls were set up across various city areas to sell these products, providing temporary employment and additional income for many people, including street vendors and artisans who craft these traditional items.
Express Tribune
2 days ago
- Express Tribune
PSX makes history on macro boost
Listen to article The Pakistan Stock Exchange (PSX) sustained its bullish streak in the outgoing week, with the benchmark KSE-100 index surging to an all-time high of 121,798 points on June 4, before settling at 121,641, marking a weekly gain of 1,950 points (+1.63%). The rally was fueled by renewed investor confidence following successful budget talks with the International Monetary Fund (IMF), the Asian Development Bank's (ADB) approval of a $800 million financing package and the government's finalisation of a Rs1.275 trillion circular debt resolution deal with banks – a significant development for the energy sector. Macroeconomic indicators further supported sentiment as petroleum sales jumped 10% year-on-year (YoY) in May 2025, the Consumer Price Index (CPI)-based inflation eased to 3.5% and the trade deficit narrowed 23% month-on-month (MoM). However, the State Bank's reserves dipped slightly by $7 million, settling at $11.5 billion. On a day-on-day basis, the PSX attempted once again on Monday to decisively breach the key psychological barrier of 120,000 at close but fell short, ending the session at 118,878, reflecting a decline of 813 points. It came due to profit-taking pressure at record levels. On Tuesday, the market soared to an all-time high above 120,000 points as investor optimism grew following the approval of a $800 million loan by the ADB for Pakistan's public finance programme and the government's approval of a Rs880 billion Public Sector Development Programme (PSDP). The benchmark KSE-100 index recorded an increase of 1,573 points and settled at 120,451. The bourse continued its record-breaking run on Wednesday, with the index closing at an all-time high of 121,799, up 1,348 points. Investor sentiment remained upbeat ahead of the federal budget, buoyed by expectations of fiscal relief measures and encouraging macroeconomic indicators. However, the PSX witnessed a volatile session on Thursday, with the benchmark index retreating after hitting record highs a day earlier. Investor sentiment turned cautious due to concerns about stringent conditions linked to a new IMF programme, including the proposed enforcement of agriculture income tax and the IMF's opposition to provincial energy subsidies. The PSX ended the day on a negative note at 121,641, down 158 points. "Building on last week's bullish trend, the market picked up pace, with the KSE-100 reaching an all-time high of 121,798 points on June 4, driven by buying interest across different sectors," Arif Habib Limited (AHL) wrote in its weekly report. Positive sentiment followed Pakistan's successful budget talks with the IMF, alongside the ADB's approval of a $800 million financing package. The government also finalised a Rs1.275 trillion circular debt resolution deal with banks, a significant move for the power sector, AHL said. Meanwhile, during May 2025, petroleum sales rose 10% YoY, inflation came in at 3.5% and the trade deficit narrowed 23% MoM. The State Bank's reserves declined $7 million to $11.5 billion. The market closed at 121,641, depicting a surge of 1,950 points, or 1.63% week-on-week (WoW). Sector-wise, the positive contribution came from commercial banks (1,044 points), power generation and distribution (369 points), fertiliser (206 points), food and personal care products (95 points) and chemicals (60 points). Meanwhile, the sectors that contributed negatively were technology and communication (82 points), automobile assemblers (29 points), miscellaneous (24 points), cable and electrical goods (10 points) and Real Estate Investment Trusts (five points). Scrip-wise, the positive contributors were Pakgen Power (327 points), Bank AL Habib (208 points), NBP (165 points), HBL (160 points) and Fauji Fertiliser Company (158 points). Foreigners' selling was witnessed during the week, which came in at $14.7 million compared to net selling of $5.56 million last week. Average volumes arrived at 660 million shares (-0.2% WoW) while average traded value settled at $98.6 million (up 24.9%), AHL added. Syed Danyal Hussain of JS Global wrote that the KSE-100 index hit an all-time high during the outgoing week, closing at a record level of 121,641 points, up 1.6% WoW. The rally was largely driven by optimism surrounding a potential agreement with the IMF, as indicated by the prime minister, which spurred pre-budget sentiment, he said. The government, following the IMF's endorsement, finalised a Rs1.275 trillion financing agreement with 18 commercial banks to address the power sector's circular debt. On the sectoral front, local cement dispatches rose 9% YoY in May 2025, bringing 11MFY25 volumes to nearly flat levels. Meanwhile, a 26% rise in exports during 11MFY25 lifted total cement sales to a growth of 2%, he added.
Business Recorder
2 days ago
- Business Recorder
Islamabad: rates of sacrificial animals increase
ISLAMABAD: The prices of sacrificial animals have registered an increase of 75-100 per cent this year as compared with the prices of past year, revealed a survey carried out by Business Recorder. Animal traders have stated various reasons for such a huge increase in the prices including increased input costs, transportation costs, government fees and others. While the buyers have condemned animal traders for unilaterally increasing prices manifold, saying in the past they had some valid reasons but this year there is no smuggling to Afghanistan, petrol/ diesel prices are stable for the past one year, fodder prices have also not increased and the authorities have better managed animal market ridding the traders of extortion. According to buyers, on this Eidul Adha the prices of animals across major cities like Lahore, Karachi, and Islamabad have skyrocketed, resulting in leaving many buyers frustrated, with rates rising by up to 75 to 100 per cent compared to last year. Last year, a smaller heifer could be purchased for Rs100,000-125,000, but this year even a low-weight one is priced at Rs200,000 or more. Buyers are increasingly voicing concerns about the lack of official regulation in animal pricing, which has led traders to set prices arbitrarily, forcing consumers to haggle for a better deal. Animals are primarily sourced from larger markets in Punjab and Sindh, with medium-sized traders incurring additional costs for transportation to metropolitans like Karachi and Lahore, including fuel, taxes, and maintenance at the local markets, which include expenses for lighting and security. Once all these costs are accounted for, traders add their margin, which can range from Rs15,000 to Rs50,000 for smaller animals and up to Rs200,000 for larger ones. A bull with three maunds of meat was priced between Rs 120,000 to Rs150,000 last year, whereas, this year, the price ranges from Rs150,000 to Rs200,000. Mosques have fixed the price of one share in a cow or bull between Rs40,000 to Rs50,000 against Rs35000 to Rs50,000 per share last year. Cattle farms in major cities such as Karachi, Lahore, Rawalpindi, and Islamabad cater to the demand for large animals, with prices ranging from Rs0.5 million to over Rs10 million for some elite bulls. The goat market has also seen similar price increases. Medium-weight goats, which were previously sold for Rs30,000 to Rs35,000, are now priced between Rs60,000 and Rs75,000. Rates of some goats are reaching up to Rs300,000 depending on their breed and build. Rams and sheep are also experiencing a price surge, with prices ranging from Rs40,000 to Rs200,000 or more, influenced by factors like weight and appearance. Camel prices have also increased, with traders noting a growing interest in camel sacrifices over the past two years. Camels brought in from different parts of Sindh are now priced at Rs400,000 and above. According to a preliminary data compiled by Pakistan Tanners Association (PTA), in 2024 around 6.8 million sacrificial animals were slaughtered on Eid-ul-Adha of which 2.9 million cows, 3.3 million goats, 385,000 sheep, 165,000 buffalos and 98,700 camels. The PTA estimated total value of the animals at $1.8 billion or Rs500 billion. The value of sacrificial animals' hides in 2024 was estimated at around 30 million. Copyright Business Recorder, 2025
