ISLAMABAD: Former Pakistani Prime Minister Imran Khan’s party leaders have criticized the budget announced by the Finance Minister Ishaq Dardescribing it as artificial and unrealistic, and accusing him of manipulating figures with a value of 1 trillion rupees in the amount of interest payments and non-tax revenues.
Pakistan’s government on Friday unveiled a 14.4 trillion rupees budget for the 2023-24 period as it struggles to fend off a looming default due to shrinking foreign reserves.
Dar, who presented the budget in the National Assembly, the lower house, said the government would target a growth rate of 3.5 percent in the next fiscal year.
Khan’s Pakistan Tehreek-e-Insaf leaders called this budget the “Instagram Budget”.
PTI leader Hamad Al-Azhar It was alleged that some of the announcements, such as salary increases, had been made to maintain the voting bank.
Azhar said the finance minister did not specify any plan to reduce inflation or to rescue the ailing economy.
“All goals in this budget are artificial and unrealistic like last year,” he said, adding that goals related to economic growth, tax collection, inflation rate, imports and transfers were written only to balance the budget, as it had nothing to do. with reality.
He alleged that there was a 1 trillion rupiah figure in the amount of interest payments and non-tax revenues.
He stated that the Minister of Finance did not specify any plan to reduce inflation or rescue the deteriorating economy, as industrial production fell by 25 percent in the past two months due to the ban on importing raw materials and the contraction of the economy.
He added, “The budget has a new external debt target of US$8.5 billion, but this would not be possible without the IMF.”
Cash-strapped Pakistan is awaiting a much-needed tranche of $1.1 billion in financing from the Washington-based International Monetary Fund, which was originally scheduled to be disbursed in November last year.
The money is part of a $6.5 billion bailout package approved by the International Monetary Fund in 2019, which analysts say is important if Pakistan is to avoid defaulting on external debt obligations.
The party’s financial expert Muzammil Aslam’, while speaking to Dawn, he said it was nothing but an “Instagrammable budget with the filters in place.”
This will be the first time in history that interest liabilities on loans exceed the total income/revenue of the country. Some steps have been announced for the voting bank, such as a salary increase of 35 percent and an increase in pensions of 17.5 percent.”
Aslam claimed that there would be a series of micro and micro budgets and the new government would have no choice but to revise the budget.


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