Islamabad: The Pakistan Economy Watch (PEW) on Tuesday said upcoming budget by the embattled government will be sheer disappointment for majority and good news for influential.
Government will compromise its stance on subsidies and rely on slogans to offer a budget that will suit their political ambitions, it said.
Questions are being raised about the legality of the fifth serial budget which will be presented by a Cabinet working under a convicted Prime Minister, said Dr. Murtaza Mughal, President PEW.
He said that no key change will take place in the budget to give a breathing space to reeling masses which will make environment more fragile.
The favourite sectors will not be included in the tax net while poor will face enhanced indirect taxation.
Dr. Murtaza Mughal said that budget is being finalised while keeping political considerations above the economic conditions.
President, Prime Minister and majority of ministers lack interest in economics and they continue to rely on imported finance minister who always prefer to employ ad hoc measures, said Dr. Murtaza Mughal.
He said that our economic managers lack foresight, professionalism, responsibility and political will to take decisions which can result in reforms.
The finance team has indulged in record fixing of figures, record printing of currency, record borrowings and record manipulation to give a rosy picture, he claimed.
Dr. Murtaza Mughal said that government also held record amount of payment claims to downplay expenditure and overstate income which took tool on business community.
Economic policies are helping rich to accumulate wealth on the cost of poor while poverty statistics are doctored to deceive every stakeholder.
A deceptive budget will not only deteriorate living standard of masses but could leave next government to face a default.
For more information, contact:
Dr. Murtaza Mughal
Pakistan Economy Watch
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +9251 251 0375
Fax: +9251 280 2449
Cell: +92321 515 7671