KARACHI – Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Thursday said a mini-budget is round the corner that will hit the poor and shield the rich.
The influential will get many undue benefits in the mini-budget while the poor will have to bear the additional burden of Rs600 billion.
Shahid Rasheed Butt said that the mini-budget will increase poverty and widen the gap between rich and poor while the prices of medicines, which have been rising steadily for the last three years, will rise sharply.
Pharma sector will face new taxes while some influential sectors will get relaxations and interests of influential personalities will be taken care of.
Shahid Rashid Butt said that every government cries out for lack of resources and increases the burden on the poor and at the same time rewards the rich.
This time too, sacrifices are being sought from the poor, but billions of rupees are being spent ruthlessly to promote the rich shape of inexpensive electricity, low-priced gas, tax exemptions, amnesty schemes and bailout packages.
The government continues to blame the international market for inflation in the country which is tantamount to throwing dust in the eyes of the people because foodstuffs in Pakistan was costlier than regional countries before the pandemic.
He noted that policymakers are trying to take credit for increased exports but the fact remains that the hike is due to the rise in prices in the world market.
If the economy is getting stronger then why loans were taken from IMF and Saudi Arabia on strict terms and why inflation is continuously increasing, he questioned.
