Reject Anti-public Budget Designed To Benefit PTI Financers, Opportunists – Shehbaz
PMLN President and National Assembly Opposition has rejected the budget 2020-2021 presented by the PTI government calling it the most anti-public budget in the history of the country.
In his response to the budget presented by the PTI government, he said this budget will lead to more inflation and unemployment. He said the government has tried to hide its incompetence behind blames on the previous government and the new coronavirus. Inflation, unemployment and degradation of businesses has broken all records under this government and this budget is a recipe for disaster as it will further worsen the economic state of the country. He said his suspicion unfortunately all came true and it is a matter of shear concern and regret that the people of Pakistan are paying for the blunders of the government.
Shehbaz said the PMLN government adopted a policy of less inflation and more progress and development, but the PTI government has implemented a totally opposite approach. The presented budget, he said, shows that the government is not willing to adopt the path of smart reforms, he criticised.
He said the Rs 1.7 trillion billion tax deficit is the hallmark of this government’s performance. For the first time in 68 years, the country’s GDP is in negative territory after inheriting 5.8 GDP from PMLN government. He predicted that a 10 percent revenue deficit will break all records. Never in the history of this country has this figure been in double digits but the incompetence of PTI has achieved.
The PMLN President said the PTI has set unreal and unreasonable budget targets which will increase problems for the people. This unreal target will further discredit the already failed government. He pointed out that the government fell short of its previous targets and has now set even taller targets that are a mile higher.
This is the first government that has missed all targets of tax revenue, government expenditure, fiscal deficit and GDP, he said, and added that hiding behind the coronavirus is not going to do any good. This is a proof of the government’s lack of vision, government failures and economic destruction.
Shehbaz said it is absolutely brutal not to increase salaries and pensions on IMF pressure. He regretted how the government froze CPEC in its tracks, ignored Balochistan and slashed the development budget drastically. He warned that the nation must get ready for a series of mini-budgets. He questioned as to where is the promised increase in exports, progress in agriculture and industry and people friendly budget measures.
“This budget is a recipe to benefit and pay PTI’s financer and opportunists. How can anyone trust the number given out by this government when they have confessed that they gave faulty figures and statistics last year”, he said.
The government blames coronavirus for the downturn fall whereas the government was falling 25 percent behind it target in February before coronavirus. This is the first government in history that has fallen below its own revenue collection of last year. This government’s 3800 billion tax collection instead of the target Rs 5555 billion is even less than the collection by the PMLN government 2 years ago.
“Why has Cottenham production fallen by 6.5 percent and that of sugarcsne when they were not affected by coronavirus. The government is dysfunctional how will it achieve the Rs 4963 billion target? This means the government will present a mini-budget before the next IMF review. In the past 2 years the PTI increased the national loan by 30 percent and is now planning the same amount more which will mortgage the future of coming generations. The government borrowed Rs 1723 billion from private banks and will take Rs 1000 billion more from private banks. Instead of Rs 300 billion the government borrowed 500 percent more this year”, the National Assembly Opposition Leader said.
