Govt shouldn’t compromise CPEC development
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Reduced allocation for CPEC criticised
The Pakistan Economy Watch (PEW) on Sunday said government should provide all the required resources for timely completion of China-Pakistan Economic Corridor.
Delaying the project to resource constraints is not acceptable and the masses will never allow it, it said.
One-third of the developmental budget has already been slashed to keep deficit under control but the government still lacks money needed for critical mega projects with loan appearing as only option, said Dr. Murtaza Mughal, President PEW.
In the last three years government has avoided meaningful reforms in the FBR and preferred to burden existing taxpayers which has left it with empty pocket, he added.
Dr. Murtaza Mughal said that the PSDP has been increased by only 14 percent which is a joke in presence of mega projects and economic corridor.
He said that Planning Commission asked the government for 900 billion rupees to complete the CPEC projects including 29 industrial zones in time but they can only get 655 billion rupees which is frustrating.
The reduced allocation will not only damage the project but also hit image of Pakistan at a time when some foreign powers have come out openly to damage the project, he observed.
Pakistan will remain a beggar unless it bring elite into the tax net and force them to discharge national obligations, he said.
