Mini-budget draws massive criticism for Imran Khan govt amid rising inflation in Pak
Dec 25, 2021
Islamabad [Pakistan] December 25 : The Imran Khan government in Pakistan is facing massive criticism over the mini-Budget from the opposition party leaders, who have opposed the budget and said the government's this step is like playing with fire.
"The government's policy of relying on foreign banks for US dollars is like playing with fire. The opposition will not let the government approve a mini-budget," Dawn quoted Pakistan Muslim League-Nawaz President Shahbaz Sharif as saying in a statement on Friday.
The Mini Budget, which consists of a Finance Bill removing exemptions from the Sales Tax, is the prior action demanded by the International Monetary Fund (IMF) before it considers Pakistan's request for the next tranche of its Extended Fund Facility (EFF), reported The Pakistan Today.
As it is a Finance Bill, it will not go to the Senate and only needs passage by the National Assembly before it goes to the President for assent, the publication added.
With regard to the rising debt on the country, Shahbaz said that the Pakistan government in the first five months of the current financial year borrowed USD 4.96 bn out of which USD 3.45 bn were for non-developmental purposes. Out of the USD 14 bn budget estimate, only USD 4.699 bn have been raised so far.
The leader lambasted the government saying debt money could not sustain the economy and nor was it a wise policy in favour of the country.
"With the entire economy, national defence and government system on debt, the philosophy of geoeconomics will become a joke," Shahbaz said.
