Budget a threat to economy, society: int’l tax experts
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Budget to widen gap between rich, poor: Dr Ikramul Haq
Govt yet to provide economic justice to masses: Huzaima Bukhari
Budget pushing majority to abject poverty: Dr Murtaza Mughal
International tax experts Dr Ikramul Haq and Huzaima Bukhari on Tuesday said current budget will widen the gap between rich and poor which is detrimental for society and economy.
They said that the budget indicates failure of the government to provide economic justice to the masses by taxing the rich.
Talking to Dr Murtaza Mughal, President of the Pakistan Economy Watch, Dr Ikramul Haq and Huzaima Bukhari said that budget lacks focus on welfare programmes and it will impede poor from moving up economically.
The budgetary measures will not redistribute wealth and income in the society but benefitting the affluent, the tax experts said.
Government efforts will not help overcome economic crisis but it has successfully pushed majority to another crisis in this era of high inflation, they remarked.
They opined that government can bring an end to lucrative SRO business, amend the Constitution and bring all kinds of income including from agriculture in the federal ambit.
Dr Ikramul Haq and Huzaima Bukhari further said that taxing education amounts to barring the children who are at the bottom to do better than their parents which is unfortunate.
There is a complete lack of understanding in the government that education can be used as effective tool for upward social mobility.
Speaking on the occasion, Dr Murtaza Mughal said that the system has been damaging poor segments of society who remain mired in abject poverty.
He said Pakistan needs meaningful redistribution policies that can uplift the downtrodden but this is not preferred by rulers and the budget is an example of it.
Dr Murtaza Mughal said that the claim of the government to keep national interests supreme seems to be a political slogan as interests of rich are being watched and protected adding that revenue measures can go wrong anytime.
The budget document is long on rhetoric and short on action which overestimates revenues, stock market and wholesalers and retailers have been taxed lightly, formal sector has been burdened.
Salary increase and fertiliser import will broaden the deficit by Rs 160 billion, said Dr. Mughal.
