Our upcoming budget – Express Urdu

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Our upcoming budget – Express Urdu
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Our upcoming budget – Express Urdu

With the anarchy gradually becoming ineffective in the country, the economy is also gradually improving. Now the question is, will this series be able to continue?

Political instability gives birth to economic crisis. This story starts from 2016, when court decisions against the democratic government started coming one after another. Finally, on the basis of Iqama, then Prime Minister Nawaz Sharif was declared unfit for life.

In 2018, Imran Khan became the prime minister due to the RTS system sitting down, then his own performance as prime minister, Usman Buzdar’s government in Punjab, Asad Umar becoming the finance minister in the federation, dealings with the IMF. Not trying to settle in a timely manner, claiming to have discovered gas worth billions of dollars from the sea of ‚Äč‚ÄčKarachi, then saying that the gas has leaked. By this time the dollar was in full swing, the economy was in shambles.

Political issues aside, revolutionary changes in our economy and our economic policies have become inevitable at this time. The mouths of our rulers were addicted to the wealth of American, Saudi and international financial institutions from the beginning. Our rulers always made Pakistan their frontline state against the socialist block. General Ayub’s martial law regime was also It was built with the blessing of General Zia, General Musharraf was also chosen by America and then the 9/11 incident which made this alliance stronger.

Our growth rate, which used to grow at five or six per cent, dropped to three to four per cent after 1980 and now averages only two or three per cent, while our spending has doubled to triple, our tax-to-GDP ratio has gone from nine to ten. percent while in India it is eighteen percent. Not only is there tax evasion in this country, but the taxes collected are not used for the welfare of the people.

Although bureaucrats like Dr. Mahbubul Haque and ANG Qazi were with him. It is true that they were not democratic people but they were patriotic and highly professional who knew how to work. Our rulers stopped listening to them and were replaced by courtiers. These self-interested people did not do anything for the country’s interest. Thus the government institutions sat down.

How is our growth rate increasing? Our prime need was to allocate huge budgets for science and technology education, development of agriculture and construction of water reservoirs, but we could not do all these properly, stop bribes, commissions and kickbacks. Therefore, no legislation has been made, no legislation has been made to impose restrictions on the powers and privileges of the ruler to save the treasury, and what has been done now is nothing but show. The loans continued to be received, the car continued to run, then the American aid was stopped, the attitude of the international financial institutions became stricter, the Gulf countries also came to account.

Circumstances took us to China, CPEC came. Think of it as a chain of loans that we received from China, now we have to unload not only the IMF but also the loans taken from China. The upcoming budget will be around 17 thousand billion, in which the income will be around 12 thousand billion, there will be a deficit of 4 thousand billion which we will have to cover by taking loans. % stays.

In this budget, we have to pay seven and a half thousand billion in debt, around two thousand billion will be defense expenses, which means that the tax FBR receives is only for defense expenses and debt repayment. will be done If our Tax to GDP rate increases from ten percent to fourteen or fifteen percent and the one thousand billion that we spend on our institutions that have become white elephants is saved, then we can save fifteen thousand billion in total. Due to which our budget deficit can reach three to four percent. The most difficult task is to increase the rate of sales tax.

It is being heard that twelve hundred billion new sales taxes will be implemented in the next financial year. All these taxes will definitely be direct taxes, that is, taxes whose additional burden will fall on the poor people, inflation will increase, poverty will increase. There will be an increase. Half of Pakistan’s population lives below the poverty line and it is estimated that next year about one million people will go below the poverty line, about four million children are deprived of education and these four Out of crores of children, one and a half crore children are from Sindh.

Khan Sahib’s anarchy is currently disillusioned with the establishment and is pinning its hopes elsewhere and will face failure there too. The problems faced by Pakistan have to be taken forward with great seriousness. Ten years of planning is needed for them. After a long time, seriousness is being seen in our judiciary and our establishment.

Wherever the mafia is active, it should be eliminated. The only requirement is that institutions should be created, the system of this country should be subject to the parliament, all institutions including the judiciary should be independent but not free from accountability. The mechanism should also be the same as that which has been set for the free and self-owned citizens of this country.

Our upcoming budget – Express Urdu