PTI Chairman and former prime minister Imran Khan on Friday rejected budget for in new fiscal year, calling it “anti-people” and “anti-business”.
budget based on “unrealistic assumptions” on inflation and economic growth, he said. in budget, government It has set goals for inflation and economic growth by 11.5% and 5% respectively.
imran went on say that weekly inflation as measured by the Sensitive Price Index (SPI) has reached in about 24 pcs.
“[This] indicates that inflation will be between 25-30%, which on in one hand will destroy in common man, and on on the other hand, slow down the economy growth due to high interest rates.
All tax reforms and pro-poor programs introduced during PTI government was delayed, he complained. “It’s unimaginable purana (old) Pakistan budget creating more burden and misery for nation.”
Former Energy minister Hammad Azar, who It was also served as financial minister for short period of time during the PTI government tenure, said budget did not have of “special importance”.
He painted a bleak picture of economic performance under current coalition government saying that inflation will rise by 2-3%, and GDP growth rate will fall from 6% to 2-3%.
economy unstable and country on facet of “bankruptcy,” he said. “They’ll bring the storm of inflation and unemployment way they continue.
” direction for country takeover out of economic crisis and the uncertainty that they (government) is created, which should Was in in budget, was not present. Feeling of uncertainty prevails [through] this is budget.”
He claimed that budget was presented in haste and all the facts contained in it were wrong.
Former minister for planning and development Asad Umar also referred to SPI and asked: “If this is the situation before budget [is passed]what will happen next?”
Previously in day, Finance Minister Miftah Ismail presented budget for upcoming fiscal year in National Assembly. During his speech, he said government had move to “sustainable growth”.
For fiscal year 23, the total budget deficit is set at 3,798 billion rupees, which is 4.9 percent. of GDP. Last year, the deficit was budgeted at 6.3%. of GDP.
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