IMF prepared the budget, Govt has to announce it: PEW
Click here to View Printed Statement
Budget proposals by businessmen wastage of time
PEW demands tax audit of all MNAs
The Pakistan Economy Watch (PEW) on Sunday said IMF has already prepared budget while government has to announce and impose it on the due date.
Trade associations are wasting time by submitting budget proposals while top officials are giving them assurances as usual, it said.
A pro-growth budget as claimed by the government functionaries in the presence of IMF programme is a pipe dream, said Dr. Murtaza Mughal, President PEW.
He said that how can government announce a pro-business and masses friendly budget when only one person out of 375 pay tax and a few thousand file return out of millions of professionals including doctors and lawyers.
He said that IMF programme has retarded growth, reduced public sector spending and damaged tax structure beyond repaid.
Dr. Murtaza Mughal said that tax system is highly flawed as industry pays 73 percent of total taxes while some other sectors are enjoying patronage.
He said that increase in private sector credit is not because of economic activity but due to stuck up refunds worth trillions. Private sector has no option but to seek costly credit to keep their businesses running, he observed.
Dr. Mughal said that Panama Papers has damaged the moral authority of the government which should ask politicians to pay taxes before burdening masses.
He demanded tax audit of 342 MNAs before squeezing masses to cope with increasing non-developmental expanses.
