PTI flays federal budget

LAHORE: Pakistan Tehreek-e-Insaf leader and former minister Malik Abdul Qayyum has said that majority of the people are dejected over the increases in indirect taxes and absence of rulers will to tax the rich and the mighty.
In a press statement, while commenting on federal budget 2015-16, the veteran politician said the FBR claimed time and again it had the data of three million people who could be easily brought in the tax net but the political leadership seemed scared of this powerful lobby and privileged would continue to retain their colossal incomes and wealth; contrarily, miseries of the poor would keep on worsening. Reduction of the rich - the poor divide is the need of the hour but no attempt has been made in this direction that will result in further frustration of the Have-nots.
Decline in Pakistani exports as compared to last year is extremely depressing as the GSP Plus facility of European Union is available to this government. Finance Minister has tried to paint a rosy picture of national economy in utter disregard of the ground realities. Growth is slow, debt is increasing, fiscal deficit is widening. Government has failed to control poverty and unemployment, he added.
Malik Qayyum said, one wonders over the boasting of the finance minister of all times high reserves of more than 18 billion dollars. These have been accumulated through borrowings on much higher interest rates. The short-term stability in the economy through borrowed money is not an asset but a liability.