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Updated June 11th, 2022 at 11:04 IST

Imran Khan rejects 'imported' Pak govt's fiscal budget as 'anti-people, anti-business'

Terming the budget for FY 2022-23 as "anti-people," Imran Khan claimed that it is based on "unrealistic assumptions" of economic development and inflation.

Reported by: Dipaneeta Das
Pakistan
IMAGE: AP | Image:self
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Amid the aggravating political turmoil in Islamabad, former Pakistan Prime Minister Imran Khan on Friday slammed the new fiscal budget presented by the incumbent Pakistan PM Shehbaz Sharif-led PML-N government. Calling it "anti-people, anti-business," Khan claimed that the budget is based on "unrealistic assumptions" of economic development and inflation. He went to lash out at Sharif's cabinet for shelving "progressive programs" implemented during his tenure, adding that the budget will "create more burdens and misery" for the nation.

Khan's remarks came after Islamabad introduced the budget for the fiscal year 2022-2023 based on an inflation rate of 11.5% and an economic growth of 5% for the coming four quarters. In contrast, the chairman of the Pakistan Tehreek-i-Insaf (PTI), Khan, stressed that the weekly inflation was estimated at about 24% by the Sensitive Price Index (SPI). "The inflation is indicated at 25% to 30%, which will destroy the common man, and on the other hand, retard economic growth due to high-interest rates," he wrote in a Twitter post. He then lamented the discontinuation of pro-poor programs introduced by the PTI government, including the Sehat card and Kamyab Pakistan.

Noting the current dent in the economic growth of Pakistan, former energy minister of the country Hammad Azar also said that the budget lacks the "special importance." He explained that the budget will add to the poor economic performance of the country and lead Pakistan to the "verge of bankruptcy" as the inflation is projected to rise by 2% to 3% in contrast to the GDP, which will fall from 6% by 2-3%. "The feeling of uncertainty prevails through this budget," he said in a video posted on PTI's Twitter handle.

To note, Pakistan's Finance Minister Miftah Ismail on Thursday presented the Pakistan Economic Survey (PES) 2021-22. In the survey, Sharif's administration reflected on the economic performance of the ruling coalition during the ending Fiscal Year. The report said that Pakistan recorded 6% growth despite having envisaged 4.8% percent. Still, the country is reeling under a massive economic meltdown due to compound issues like depleting forex reserves, sky-high fuel prices, and a debt crisis

Khan accuses Sharif of attempting to evade corruption

Imran Khan on Thursday lashed out at his successor for the skyrocketing inflation in the country. He accused PM Sharif of only trying to evade corruption charges, adding that Sharif-led Pakistan Muslim League-Nawaz (PML-N) contributed to the dwindling economy.

"If they were not ready to handle the country economically then what was the need to conspire against the PTI-led government? If they were not prepared then what was the need, what was the hurry? They could have waited for 1.5 years," Khan said, as quoted by the Dawn during a presser in Islamabad.

Noting the unprecedented surge in fuel prices in Pakistan over the past months, Khan advised that the first thing Sharif's administration must have done was to reduce the inflation that has gripped Pakistan for over three years now. Recalling achievements by the PTI administration, Khan stated, "In three and a half years, we raised petrol and diesel prices by PKR 55 and PKR 50, respectively. They came and increased the price by PKR 60 in a span of 10 days."

(Image: AP)

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Published June 11th, 2022 at 11:00 IST

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