US economic arms involved in economic blackmail
Benazir programme not to provide any real relief to miserable
It’s high time to choose between national and international interest
Government taking from one hand and giving back from other
Government plans to burden masses with an additional Rs 284 billion of expenses and then give back Rs. 34 billion in shape of Benazir Income Support Programme (BISP) and 21 billion in salary and pension relief which is classical example of taking more from one hand and giving back some from the other.
A cut of 112 billion in subsidies has already been announced in the budget and more is to come because of the intense foreign pressure, said Dr. Murtaza Mughal, President of Pakistan Economy Watch in a statement issued here Wednesday.
Government has already started withdrawing subsidies in phases on oil (175 billion), electricity (89 billion) and wheat (20 billion) and its monetary situation will not allow it to resist the demands of World Bank and IMF, known as economic arms of United States of America.
Information Minister Sheri Rehman on June 11th and Secretary Information PPP Punjab chapter, Farzana Raja on June 15th said Benazir Income Support Programme would facilitate about 5 to 7 million poor and Nadra’s help would be sought for disbursement of funds. She c claimed to collect impartial disbursement.
The leaders would not say as how much time will be required for the compiling data. However, our calculations show that if the BISP was executed on merit; the cash grant of just Rs 1,000 per month for each qualifying household means Rs 33.33 per day which is insufficient to arrange even for bread (roti) only, said Dr. Mughal.
Will the BISP help poor to fight with sky rocketing price-hike of all commodities and help them live and win bread and butter decently, he asked.
Similarly relief for retired Government servants and pensioners (21 billion) will not help them a great deal in current economic scenario and seems more of a statement for political consumption.
National saving have no been promoted to an extent that can push masses to take interest in it and Government can get some additional funds from there.
World Bank is pushing Pakistan for subsidies withdrawal and offering a loan of 500 million USD on the condition that it can only be used to but American wheat which can be called nothing but discrimination and economic blackmail.
Some officials are asking Government to cut taxes but FBR policy framers are reportedly resisting the move as it will hit collection targets. The current budget has put an additional load of Rs 250 billion on masses in shape of taxes and different subsidies have been cut to 295 billion from earlier 407 billion.
A financial mechanism is urgently needed to stop cartels and corrupt practices among the trading circles, the root cause inflation.
Time has come for the Government to take proper corrective measures at home choose between national and international interest and plan proper economic revival to come out of the monetary trap, observed Dr. Murtaza Mughal.
