Budget lacks meaningful reforms
Govt not ready to provide any relief to masses
Economic managers lack will, capacity to initiate reforms
Dated June 01
The Pakistan Economy Watch (PEW) on Friday said the budget presented to the Parliament for upcoming fiscal year 2012-13 missed meaningful reforms.
No steps were announced to reduce the trust deficit, contain inflation, ensure political and economic stability, and give relief to any section of society, it said.
The statement of Finance Minister Dr Abdul Hafeez Sheikh regarding energy crisis was vague which left much to be desired, said Dr. Murtaza Mughal, President PEW.
The budget is nothing but continuity of failed policies which is based on imaginative targets which prove that government is not ready to ensure enabling environment, reduce expenditure or revive industry.
Economic managers lacks will and capacity to initiate any reforms as it continued to blame former rulers even after five year, said Dr. Murtaza Mughal.
He said that there is on economic revival plan on cards, it is depending on jugglery of words which will put extra-burden on the inflation-stricken public.
He further added that the increase in the salaries of government servants and pensions is a cruel joke in the current circumstances. Industrial workers have been totally ignored.
Government will continue to print currency, rather boost the process to finance its expenditures which will continue to hurt everyone.
Budget has proved beyond any doubt that people will have to brave more mismanagement in the upcoming fiscal, he added.
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Dr. Murtaza Mughal
Cell: 0321-5157671
President Pakistan Economy Watch
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