Before the month of June, all business sectors even the ordinary citizens started talking about the Budget 24-25. However, for the last few years the common people, particularly 40% below the poverty line don’t expect relief from the government’s Budget.
To the contrary, they expected more taxes, more inflation and that is exactly what happened because the official figures that came out 2 weeks after Budget reveal showed that the inflation has reached 27.5%. While Finance Minister Muhammad Aurangzeb claimed on the floor of the house that they will bring the inflation down to 11.3%.
This is evidence enough that all tall claims made in the Budget are either fictitious or doubtful.
The Finance Minister simply accepted that the Rs 13 trillion Budget is on the advice of IMF.
IMF always emphasises on two things. One, taxes on essential goods. Second, reduction in government’s expenditure. However, the government’s economic advisors and officials paid heed to the first advice of slashing taxes on the common people including the salaried classes while not compromising on the aristocratic lifestyle of the government.
Since the Budget has come out, all are in misery. The reality is that that even the worst government’s finance minister with a political background will have party pressure to try his or her best to provide relief to the people for vested interests.
On the other hand, a technocrat Finance Minister such as the current one with a banking experience has tried his best to appease the IMF instead of the people and play with the figures.
If we take a look at our neighbouring countries like Srilanka and Bangladesh reached to financial collapse and near to default a few years back. IMF helped them out because in both countries the democratic process was fair and they trust them to pay back the loans.
It is a sorry state of affairs for Pakistan that even with the 24th programme of IMF, we are the same old beggars.
Unfortunately, like the past budgets, Budget 24-25, is two step backwards, pro IMF, and anti-people.
