Pakistan Muslim League-Nawaz (PML-N) President and Leader of the Opposition Shehbaz Sharif has rejected the second federal budget presented by the Pakistan Tehreek-e-Insaf (PTI) government termed it as anti-people.
Shehbaz Sharif said that this budget will lead to a further rise in inflation and unemployment, while the business downturn has set a historic record.”
The Leader of the Opposition said that the budget announcements proved that the government was not ready to take the path of reform and wisdom while the historic deficit of 1.7 trillion billion in tax revenue was the performance of the present government.
He said that the PML-N had given the economy a GDP growth rate of 5.8% and the present government had brought it to 1.9% in the first year while this year fiscal deficit would break all previous records of the country’s economy and budget.
The PML-N president said that the fiscal deficit has never been in double digits in history, for the first time the present government has done it and the budget and its targets are unrealistic.
Shahbaz Sharif said that PTI government was the first government in Pakistan’s history which failed to achieve its targets of tax revenue, government expenditure, fiscal deficit and GDP.
He said that hiding behind Coronavirus would not work, the economic devastation before the Pandemic was ample evidence of government failures and misguided policies while the Pak-China Economic Corridor (CPEC) was blocked and Balochistan was ignored.
Shahbaz Sharif said that not increasing salaries and pensions under the pressure of IMF is cruelty, if it is a budget then the nation should be ready for a mini-budget.
He said that in the last two years, the present government has increased the national debt by 30% while the government has borrowed Rs. 1723 billion from local banks at very high-interest rates.
In addition, senior PML-N leader Ahsan Iqbal, who is currently suffering from the coronavirus, tweeted in his response to the federal budget that the real issue was trade deficit and not fiscal deficit. The real problem is the deficit of confidence, the deficit of decision making, the deficit of vision and the deficit of competence, due to which the economy has been sinking for 2 consecutive years.
اصل مسئلہ تجارتی خسارہ ہے نہ مالیاتی خسارہ-
اصل خسارہ اس حکومت پر:
۰اعتماد کا خسارہ،
۰فیصلہ سازی کا خسارہ،
۰وژن کا خسارہ اور
۰اہلیت و صلاحیت کا خسارہ ہے
جس کی بدولت معیشت مسلسل دو سال سے ڈوب رہی ہے-
— Ahsan Iqbal (@betterpakistan) June 12, 2020
The Pakistan Peoples Party (PPP) has rejected the second federal budget presented by the Pakistan Tehreek-e-Insaf (PTI) government.
PPP leader Naveed Qamar said that due to the reduction in the purchasing power of the common man due to inflation, it was expected that wages would increase.
Naveed Qamar said that the government while showing austerity in the budget, did not give any relief to the people.
It should be noted that the Pakistan Tehreek-e-Insaf (PTI) government has presented a budget of Rs 71.36 trillion in which no new tax has been announced.
The budget was presented by Minister for Industries and Production Hamad Azhar in a meeting of the National Assembly chaired by Speaker Asad Qaiser.
Presenting the budget proposals for the financial year 20-2020 in the National Assembly, Minister of State for Industry Hamad Azhar had said that it was an honour and pleasure for him to present the second annual budget of the PTI government.