Tuesday Nov 30, 2021
PML-N President Shahbaz Sharif Monday raised alarm at reports that the government intends to release a mini-budget in line with the International Monetary Fund's (IMF) recommendations, saying that it would prove to be a death knell for a nation already reeling from the effects of rising inflation and unemployment.
A previous report in The News had also cited sources as saying that the government intends to introduce a mini-budget in line with the demands of the International Monetary Fund (IMF).
As per sources, tax exemptions on mobile phones, stationery, and packaged food items are likely to be abolished in the mini-budget, while the amendment bill would allow the government to withdraw sales tax exemptions from zero ratings in addition to exports, stated the report.
In a statement, Shahbaz said that it would become impossible for the nation to live after the government introduces the mini-budget considering how petrol, gas and electricity will become even more expensive.
The former Punjab chief minister said an increase in taxes would further destroy the business community and shrink Pakistan's economy.
Shahbaz Sharif said the doomsday of inflation had arrived and that the only salvation for the masses would come in the form of the incumbent government going home.
The PML-N leader said a mini-budget in line with the IMF's recommendation would be a threat to Pakistan's national security.
The former Punjab chief minister urged coalition partners of the ruling PTI to stand up to the mini-budget, adding that it could be dangerous to the point that it can paralyse Pakistan's defence capability.
He said coalition parties of the government should oppose the government's move to introduce the mini-budget for the sake of Pakistan's national interest.