PRIME Minister Shehbaz Sharif’s tenure is the only four years in our history where growth hasn’t even touched 4pc Pakistanis are poorer than they were four years ago, pay-ing more in direct and indirect’taxes and suffering from 78pc inflation over the last four years.
As a nation, we exported less than last year, became more indebted, our unemployment is at a 20-year high, and poverty is higher today than 10 years ago. In short, our downward slide continued this year.
Does this budget recognise that Pakistan is on a downward slide? Hardly. Will this budget halt our economic slide by implementing major reforms on both the revenue and expenditure sides? No. This is a budget of Nero playing the fiddle while Rome was burning.
Yes, it has a little relief for salaried people and exporters. It reduced withholding taxes on property transfers. But it also adds a host of indirect taxes on manufacturers, distributors and wholesalers. This may increase the cost of many consumer goods. There is also relief for those flying in first or business class and for those using credit cards in foreign currency.