Islamabad June 2 (NTS): PPP senior leader Senator Rehman Malik in his budget speech in Senate on Friday strongly condemned the anti-poor budget of the PML-N government saying that government policies have endangered the lives of poor people. He voiced serious concerns over the reduction in remittances and exports saying this has resulted in the burgeoning of public debt. Quoting Mirza Ghalib famous saying;
Senator Malik said that the budget is based on international and domestic debts and the government has achieved not a single target including the GDP. He said that the budget was just the fudging of figures and there was no relief has been given to the poor.
Senator Malik said that the nation still remembers the tall claims of the government that after coming to power, it will break the begging bowl but the bowls have further expanded. He asked the government to stop begging further and focus on putting the economy on self-reliance. He said that unfortunately, Pakistan has the most expensive loans in the world. “The country was going to be bankrupt but the credit goes to Finance Minister Ishaq Dar who saved the country from bankruptcy through borrowings from international and domestic lenders,” said Senator Malik mockingly.
He said, “it is not me who is saying this but the IMF report states that the foreign currency reserves have largely been built with expensive foreign loans and I feel that it is not going to be sustainable and we may again head towards bankruptcy”.
The PPP senator said that there the budget deficit was 8.3 percent which means we may have to borrow more trillions from local banks to meet the budget deficit.
“These borrowings, extra printing of currency and local borrowing will increase inflation and public will suffer more price hike in the coming days,” said Senator Malik.
He said that overseas Pakistanis should be fully facilitated in order to encourage foreign remittances as it is the backbone of our economy but unfortunately there is nothing in the budget for the betterment of overseas Pakistanis. He said maximum resources should be diverted towards energy sector in order to provide relief to the people. Senator Malik said that the PML-N government promises regarding energy proved mere false claims.
Senator Malik said that Rs1001 billion of the budget is allocated to infrastructure and its 33 percent will be distributed through MNAs. This is an election year and allocation of these funds is certainly pre-poll rigging, said Malik.
It is important to take notice of the pre-poll rigging as this fiscal year is the election year, he said.
Senator Malik said that Article 75 of the Constitution doesn’t allow the prime minister to distribute Rs33.3 billion among MNAs.