Khurram Nawaz Gandapur, Secretary General of Pakistan Awami Tehreek, has said that the so-called democratic government has inked agreements to procure a loan of whopping $57 billion from International Financial Institutions (IFIs) during the first year in power. He said that foreign loan of $59 billion was taken during the last 28 years. He said that the Finance Minister failed to indicate any policy to cut down the government’s extravagant spending. He said that instead of retiring previous loans, the government’s entire economic management was premised on seeking new loans. He further said that budget failed to spell out any policy for socio-economic well-being of the masses.

PAT Secretary General said that according to Economic Survey of Pakistan released on the eve of presentation of budget, Pakistan had a population of 120 million having the capacity to work. Out of this staggering number, only 50 million were able to find some kind of employment both in public and private sectors while 70 million were without any kind of employment. He said that no plan or scheme was contained in the budget to take care of the issue of unemployment in the country nor was any allocation specified for the same purpose.

Khurram Nawaz Gandapur said that only Rs. 18 billion were allocated for elimination of poverty in the budget, which was akin to fooling the poor. He said that price hike recorded 40% increase during one year of the government while a pay raise of only 10% was announced, which was merely a peanut and tantamount to making fun of the government employees. He said that the budget depended on foreign borrowing while the Finance Minister did not introduce any measure in the budget to increase revenue collection to make up for the budget deficit.

PAT Secretary General described the budget as a jumble of words which did not qualify to be dubbed as pro-people budget. He said that social sector particularly education and health were totally ignored in the budget altogether. He said that going by the contents of the entire budget statement, it would be safe to assume that it was anti-poor which would add to their burden. He said that those who came into power through fake and rigged elections have betrayed the nation once again. He said that common man will be affected by taxation imposed on retailers in the new budget, which would add to price hike.

He said that the government has exploited thousands of old-aged workers by not raising their pensions who get their pension through EOBI. He said that ratio of taxes has been increased instead of broadening the tax net. He said that no mechanism has been announced to bridge the budget deficit. He further said that the new budget has also failed to offer any plan to stem power, gas theft and tax evasion. He said that no policy has been announced either to decrease dependence on foreign loans, adding that there is little relief for the small traders in the budget.