Minister terms budget a \u201crelief-oriented\u201d one that caters to the demands of all segments of society\u201d
\n ISLAMABAD
\nOpposition leaders on Sunday rejected the federal budget, accusing the government of ignoring economic realities, burdening citizens with taxes and failing to address rising poverty. \u201cThey [rulers] are deceiving themselves,\u201d Senate Opposition Leader Allama Raja Nasir Abbas said while addressing a budget seminar in Islamabad, criticising the government\u2019s claim that a person earning Rs280 a day was not below the poverty line.
\nAbbas said the rulers were \u201cnot ready to see facts with their own eyes\u201d and alleged that the government had failed to provide services to the people.
\n\u201cThe people of Pakistan are being crushed in the mill of poverty,\u201d he said, adding that prices of food items were \u201ctouching the sky\u201d.
\nComparing the country\u2019s finances to a household budget, the opposition leader said that when a family\u2019s expenses exceeded its income, it came under the burden of debt and then started selling its assets.
\n\u201cPakistan\u2019s income is less than its expenses,\u201d he said, adding that no serious effort had been made to reduce expenses and increase income. Abbas also warned that if the next elections were held under the same system, the results would be \u201cthe worst\u201d. Tehreek-e-Tahafuz-e-Ayeen-e-Pakistan leader Mustafa Nawaz Khokhar said the rise in poverty was proof of the failure of economic policies.
\n\u201cThe real measure of economic growth is improvement in people\u2019s lives,\u201d he said, adding that life had become difficult for low-income groups.
\nKhokhar said a tax system could not be effective without state services, stressing that citizens must be provided with facilities if taxes were being collected from them. \u201cEconomic success is meaningless if poverty is not reduced,\u201d he said, adding that the budget could not succeed without solving public problems.
\nHe said the government had failed to reduce its own expenses, while heavy taxes continued to be imposed despite a lack of services. PTI senior leader Salman Akram Raja described the budget as an \u201ceconomic emergency\u201d for Pakistan, saying the country\u2019s economy was trapped in a severe crisis and debt burden. He said claims of economic development were contrary to reality, while the increase in loans posed a major threat to the country\u2019s future.
\n\u201cThe federal government is trapped in interest payments,\u201d he said, adding that running the system through loans was not a sustainable solution. Raja said poverty was increasing instead of declining, while Pakistan was far behind in spending on health and education.
\n\u201cInvestment in human development is necessary for competing globally,\u201d he said, adding that fundamental changes were needed to address the economic crisis.
\nFormer prime minister and Awam Pakistan Party leader Shahid Khaqan Abbasi said the last four years had been the worst for Pakistan\u2019s economy.
\nHe said government expenditure had become larger than development spending, while pension expenses had exceeded the cost of running the government.
\n\u201cInterest and debt payments have started exceeding income,\u201d Abbasi said, adding that the country\u2019s debt was increasing every year and the crisis was becoming more serious.
\nHe said additional taxes had placed a further financial burden on the people, while the government was taking new loans to meet its expenses. Abbasi said budget relief claims appeared far from reality, adding that ordinary Pakistanis were bearing the burden of indirect taxes.
\nHe also called for basic reforms in the system, saying investment would not come without rule of law, political stability and policy continuity.<\/p>\n","protected":false},"excerpt":{"rendered":"
Minister terms budget a \u201crelief-oriented\u201d one that caters to the demands of all segments of society\u201d ISLAMABAD Opposition leaders on Sunday rejected the federal budget, accusing the government of ignoring economic realities, burdening citizens with taxes and failing to address rising poverty. \u201cThey [rulers] are deceiving themselves,\u201d Senate Opposition Leader Allama Raja Nasir Abbas said […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-551235","post","type-post","status-publish","format-standard","category-top-news"],"yoast_head":"\n