Sunday Jun 12, 2022
ISLAMABAD: Prime Minister Shehbaz Sharif says that the federal budget for next fiscal year 2022-23 represents a significant improvement in several ways.
In a tweet today (Sunday), he said it has provided more educational opportunities for our youth, particularly from Balochistan and targeted subsidies for financially weaker people.
The PM said that more importantly, it has taxed non-productive assets of the rich.
The coalition government unveiled the “toughest” federal budget for the next fiscal year 2022-23 with an outlay of Rs9.5 trillion as it seeks to fulfil the International Monetary Fund’s (IMF) conditions, but PTI, the main Opposition party, has rejected the finance bill and called it an "unimaginative, Purana Pakistan budget".
The federal government unveiled the budget amid strict conditions laid forth by the IMF for the revival of the $6 billion loan programme stalled for months over policy breaches.
In a statement, PTI Chairman Imran Khan said that his party rejects the "anti people and anti-business budget presented" by the "imported government".
"Budget is based on unrealistic assumptions on inflation (11.5%) and economic growth (5%). Today's SPI of 24% indicates that inflation will be between 25/30% which on the one hand will destroy the common man," predicted the former prime minister.
The PTI chairman said that the "retard economic growth" will also hit Pakistan "due to high-interest rates".
"All our progressive tax reforms and pro-poor programmes such as Sehat card, Kamyab Pakistan are being shelved. It is an unimaginative, Purana Pakistan budget creating more burdens and misery for the nation," said Imran Khan.