Lahore: Hammad Azhar of Pakistan Tehreek-e-Insaf economic team has said that all targets set by Pakistan Democratic Movement-led government in budget are “Artificial and not realistic”.

Reacting to budget, Azhar said targets set for economic growth, tax collection, inflation rate, imports and remittances had not been written in finance bill to balance budget as they had “Nothing to do with reality”.

Similarly, former Industries Minister said there “Is figure fudging of one thousand billion rupees in amount of interest payments and non-tax revenue” in budget.

He said incumbent Finance Minister did not outline any plan to reduce inflation or save “Sinking economy”. “Industrial production fell by 25 percent due to ban on import of raw materials and shrinking economy. No comprehensive plan was made to restore economy,” Azhar added. He said budget document sought to pay off debts worth Rs 8.5 billion which he said was not possible with securing IMF bailout package. PTI leader said incumbent government did not seem interested in effective decision-making and economy. “They only care about Imran Khan.”

PTI leader Asad Umar said GDP growth declined from 6.1 percent last year to 0.3 percent this year as per government statistics. “This is biggest growth decline since 1971 for Pakistan. Add highest inflation in nation’s history. Economic collapse is catastrophic. This ain’t working. Time to rethink, reset and revive.”

Former Khyber Pakhtunkhwa Finance Minister and PTI leader Taimur Khan Jagra took to twitter to criticise budget. “Budget 2023-24 PTI dreamt of health card for every Pakistani should have been beyond party lines. PDM tried entire year to destroy it, stopped it for FATA and stopped it multiple times in Punjab and KP. Now Dar introduces health card for artists only. What come down!.”

Awami Muslim League Chief Sheikh Rasheed Ahmed said on social media that PDM-led government had failed to achieve all economic targets and criticised rulers for runaway inflation despite fall in international commodity prices.

Published in The Daily National Courier, June, 10 2023

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