LAHORE - Pakistan Industrial and Traders Associations Front (PIAF) Saturday said that budget would hardly be doing any favour to country’s ailing economy as the government did not give any substantive plan to overcome electricity crisis.
In a statement issued here after having a meeting PIAF former Chairmen, Engineer Sohail Lashari said that by not allocating funds for Kalabagh dam, the government has given a clear message to the masses that they were least interested in ensuring cheaper electricity to the trade and industry.
He said that unemployment, closure of industrial units because of unavailability of electricity has become order of the day in the resource-rich country instead of looking at the half empty glass, the policy makers are looking at the half fill but they are unaware of the fact the half fill glass would soon be empty if the hydle potential of the country is not tapped.
He, however, said that the business community was expecting an announcement on new dams but no such announcement was made though the country was facing unprecedented energy crisis because of lack of dams for generation of cheap and sufficient electricity. He said that neither any new hydle project was announced nor any measures for exploitation of huge coal reserves the country were taken.
He said that the finance minister announced a budget having high revenue and expenditures but did not say a single word as to how these targets would be met.
He said that subsidy on solar tube wells, however, would give some much needed strength to the agriculture sector besides promoting the alternate energy sources for electricity generation but increase in power generation through hydel resources is must for the survival of the country.
He said that no measures were announced to broaden the tax net and it seemed that the existing taxpayers would be targeted to meet the revenue target.