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Skyrocketing transportation cost means people need mass transit system even more

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Skyrocketing transportation cost means people need mass transit system even more

Around three dozen people – both men and women – are constantly ignoring the repeated announcements and pleas made by multiple rickshaw and Chingchi drivers. They won’t pay any attention as they wait for feeder bus – the system run by the Punjab Masstransit Authority.

As soon as the bus – the smaller one with one exit only – arrives, they rush towards it, making it difficult for those intending to disembark and thus forcing them to yell “Wait a bit. First allow us to leave.” Moments later, all of them are able to leave the bus as new passengers pushed their peers to manage some space in the bus.

Meanwhile, one or two passengers standing right at the door are making it difficult for the driver to close the door, who is pleading on speaker to either move a step forward or board the next bus. However, no one listens to him. After repeated attempts, the driver is able to shut the door and the bus starts moving again.

It takes around well over a minute, although the time fixed for a stop is 15 seconds, but the high number of passengers exiting and entering the bus mean it is impossible for the driver to follow the rule.

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These scenes are a daily routine in Lahore – especially during rush hours – which has a limited number of feeder bus routes apart from two mass transit lines – Metrobus and Orange Line.

Most of these buses has two exits – one each for men and women compartments – but the smaller single-door buses are also in use on some routes.

However, the short story narrated in the abovementioned example is applicable to almost all routes and busy points – bus stops – as well as the Metrobus and Orange Line.

It’s inflation. The PMA’s integrated transport system is much cheaper than other modes of transport – Rs15 for one ride in case you have a card with additional Rs5 charged if you board one or two more bus(s) within one hour of exiting the previous one. It means your entire journey cost Rs15 or Rs20 or Rs25 only. The time is calculated when you validate the card for the second time while leaving the bus.

In case of cash, every passenger has to each Rs20 for each ride.

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The number of people availing the service is growing at a rapid rate just like the inflation as people not only want to have a respectable service but also save money amid the unprecedented financial crisis.

Integrated transport system is a must for any city as it enables people to reach shuttle between their homes and working place easily while saving both precious money and time. But with the rising prices of every daily-use item and service, more and more people have no choice but to opt for austerity and this system provides them the best opportunity.

The record-rise in petrol and diesel prices means a large chunk of your income is consumed by the transportation cost as the overwhelming majority can’t afford rickshaw and Chingchi or app-based services like Uber, Careem and inDrive.

Certainly, this system is a great refuge for the masses.

Lahore, the second-largest city in Pakistan, was supposed to have at least four mass transit lines and around 1,500 feeder buses with over 120 routes for the country’s first integrated transport system. But politics ruined everything.

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First came the delay in the Orange Line construction. It was politically motivated. As a result, the then Shehbaz Sharif-led Punjab government could neither launch the remaining mass transit lines or add to the feeder bus fleet. They even didn’t bother to introduce the planned feeder bus routes for Orange Line. No need to recall the entire episode. You know everything unless political bias affects your thinking.

The PTI tenure saw an intentional effort to destroy the system – no new mass transit line added, no new feeder bus imported. Even the existing Metrobus line has been neglected since then due to very little maintenance.

Zero expansion means the system can’t cater to the needs of the megacity. It urgently needs new mass transit lines and feeder buses to ensure expansion. Even the existing routes need reduced head time – the gap between the two buses leaving the starting point. Currently, it ranges from seven to 20 minutes for different routes.

The then PML-N government during its 2013-18 tenure failed to launch the feeder bus service in one go as the PMA opted for a phase-wise introduction. In simple words, the introduction of feeder buses had been made conditional to the construction of new mass transit lines – a move that makes no sense – while erstwhile Lahore Transport Company (LTC) was also shut down.

Obviously, the closer of LTC was necessary after the introduction of this integrated transport system. However, the foreign-educated managers of PMA failed to understand that they must at least replace the LTC buses and routes with the new feeder bus system while keeping expansion in mind.

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And this loophole was fully exploited by the PTI government.

Perhaps, one of the biggest jokes played with the people of Pakistan by the Musharraf regime was the introduction of Chingchi. Now these Chingchis are biggest source of noise pollution in urban centres.

This inflation phenomenon and the global warming have made the case for mass transit system in every city of Pakistan even more stronger. But we first have to disembark from Chingchi to even think about that.
 

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Massive reduction in Punjab flour prices, 20kg bag costing Rs1,000 less: Bilal Yasinv

Massive reduction in Punjab flour prices, 20kg bag costing Rs1,000 less: Bilal Yasinv

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Massive reduction in Punjab flour prices, 20kg bag costing Rs1,000 less: Bilal Yasinv

Highlighting a marked decrease in flour prices, Punjab Food Minister Bilal Yasin on Tuesday said the province already had enough wheat stock to meet the entire needs for year.

Yasin said 20 kilogramme flour bag price had decreased Rs1,000 during the past month and was available for Rs1,700 to Rs1,800 in the market. The current rate of 10 kilogramme bag was Rs900, he added.

Read more: Punjab govt promises to implement new bread prices, blasts those criticising the move

In a statement, the provincial food minister also promised to take action against those responsible for the wheat import scandal which has triggered a crisis for the farmers who are unable to get the promised minimum support price of Rs3,900 per 40 kilogramme as the market is offering much lower rates of Rs2,800 to Rs3,200.

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He reiterated the government stance that the crisis was a result of the caretaker government’s decision of wheat import.

About the ongoing probe ordered by Prime Minister Shehbaz Sharif by constituting a fact-finding committee, Yasin said the government was determined to make the report public and hold those accountable behind the episode.

NO MORE WHEAT IMPORT?

He said Punjab currently had carry-forward stock of 2.3 million metric tons of wheat, which was sufficient for period till the next wheat crop harvesting in 2024-25.

The statement is very important because of the fact that Pakistan won’t need any wheat import till even during the next fiscal year as the new wheat crop has already arrived in the market, thus saving precious foreign reserves amid the prevailing financial crisis, which would also keep the rupee strong as a result.

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PUNJAB ROTI PRICES

As Punjab Chief Minister Maryam Nawaz from day one has made price control her primary focus, Yasin also talked about the government decision to slash the roti prices.

“Roti and naan are available at the notified rates across Punjab,” said the minister.

Last month, the Punjab government had slashed the bread prices which jumped higher for a long period due to the increase in wheat prices. Roti price is fixed at Rs16 and naan price at Rs20 – a move that produced the desired results despite initial resistance faced during the first week or so.

Yasin mentioned that around 50 per cent of population in Punjab was living in cities and the people from low-income groups were very happy after the reduction in flour prices.

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Tandoor owners to go on strike over Punjab roti prices notification

Tandoor owners to go on strike over Punjab roti prices notification

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Tandoor owners to go on strike over Punjab roti prices notification

Tandoor owners in Punjab have announced a province-wide strike over the issue bread prices as Chief Minister Maryam Nawaz directed the administration to ensure effective implementation of the new rates.

Soon after assuming the office, Maryam had made price control a top priority of her government and the latest orders are a continuation of a series of measure taken in this regard.

Read more: Administration activated for price control, crackdown on hoarders: Maryam

It is the Muttahida Nanbai Association – a representative body of tandoor owners – announced its decision to start strike from tomorrow (Wednesday), saying the Punjab government had failed to meet their demands.

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Its president, Aftab Gul, says the district administration in Lahore isn’t giving any attention to their demand and they are shutting their businesses across Punjab from Wednesday to register their protest.

The tandoor owners are demanding a new notification of bread prices while calling for keeping the naan prices open and providing flour for roti to ensure implementation of government orders regarding fixing Rs16 as roti prices.

On the other hand, the chief minister in a meeting with assistant commissioners from across Punjab on Monday issued directions on different issues, including monitoring the bread prices notification.

The Punjab government is of the view that flour prices have been slashed – a development that must be reflected in the roti and naan rates.

Read more: Massive reduction in Punjab flour prices, 20kg bag costing Rs1,000 less: Bilal Yasin

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It is not just the low-income workers living separately from their families due to their livelihood compulsions but also a large number of households prefer buying bread from tandoors.

In fact, morning breakfast with naan channa is a tradition in the province, as people young and old rush to the eateries to buy their favourite combo.

Also on Tuesday, Punjab Food Minister Bilal Yasin highlighted a marked decrease in flour prices and said the province already had enough wheat stock to meet the entire needs for year.

Yasin said 20 kilogramme flour bag price had decreased Rs1,000 during the past month and was available for Rs1,700 to Rs1,800 in the market. The current rate of 10 kilogramme bag was Rs900, he added.

Yasin also talked about the government decision to slash the roti prices. “Roti and naan are available at the notified rates across Punjab,” said the minister.

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Last month, the Punjab government had slashed the bread prices which jumped higher for a long period due to the increase in wheat prices. Roti price is fixed at Rs16 and naan price at Rs20 – a move that produced the desired results despite initial resistance faced during the first week or so.

Yasin mentioned that around 50 per cent of population in Punjab was living in cities and the people from low-income groups – who worst affected by inflation – were very happy after the reduction in flour prices. 

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Japan warns of action over volatile currency, notes other nations too share the concerns

Japan warns of action over volatile currency, notes other nations too share the concerns

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Japan warns of action over volatile currency, notes other nations too share the concerns

Japan may have to take action against any disorderly, speculative-driven foreign exchange moves, the government’s top currency diplomat Masato Kanda said on Tuesday, reinforcing Tokyo’s readiness to intervene again to support a fragile yen to control inflation.

“It is preferable for exchange rates to remain in a stable manner following fundamentals, and if the market is functioning soundly in this way, there is of course no need for the government to intervene,” Kanda, Japan’s vice minister of finance for international affairs, told reporters.

“However, when there are excessive fluctuations or disorderly movements due to speculation, the market is not functioning and the government may have to take appropriate action. We will continue to take the same firm approach as we have in the past.”

Tokyo is suspected to have intervened on at least two separate days last week to support the Japanese yen after it tumbled to lows last seen more than three decades ago.

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Bank of Japan data suggested authorities spent more than 9 trillion yen ($58.4 billion) in defence of the currency, helping lift the yen from a 34-year low of 160.245 per dollar to a roughly one-month high of 151.86 over the span of a week.

Tokyo is estimated to have spent around $60bn during its last forays in the market to prop up the yen in September and October 2022.

The Japanese yen, which is down nearly 9 per cent on the dollar this year, was last trading around 154.19 in the Asian afternoon [07:39 GMT].

Japan is reluctant to intervene in the currency market considering its limited available dollar cash reserves and US Treasury Secretary Janet Yellen’s comments that such moves were acceptable only in rare circumstances, said Hideo Kumano, chief economist at Dai-ichi Life Research Institute.

“Kanda might have started a verbal warning early on, as he wants to fix the exchange rate pegged at around the lower 150 yen level against the dollar at least until around May 15” when the US consumer price index data comes out, Kumano said.

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YIELD PRESSURE

Kanda, the top Japanese currency diplomat, said it is normal practice for a currency authority to not comment on whether it has carried out market intervention, when asked about recent speculations that Japan has conducted yen-buying interventions.

A weaker yen is a boon for Japanese exporters, but a headache for policymakers as it increases import costs, adds to inflationary pressures and squeezes households.

The yen has been under pressure despite the BOJ’s landmark decision to ditch negative interest rates in March as US interest rates have climbed and Japan’s have stayed near zero.

That dynamic has driven cash out of yen and into higher-yielding assets, with the pressure intensifying in recent months as expectations for Federal Reserve rate cuts receded.

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Kanda noted that a number of countries in addition to Japan had expressed serious concerns about foreign exchange market volatility in a meeting leading up to a ASEAN+3 finance ministers and central bank governors conference in the Georgian capital Tbilisi last week.

ASEAN+3 groups the 10-member Association of Southeast Asian Nations (ASEAN) as well as Japan, China and South Korea.

“The current concerns are not confined to Japan,” Kanda said. 

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