ISLAMABAD - The Pakistan Muslim League-Likeminded has termed the federal budget for 2012-2013 presented by the PPP-led ruling coalition a mere drama.In a joint press statement issued here on Sunday, party’s leaders including Hamid Nasir Chattha, Arbab Ghulam Rahim, Salim Saifullah Khan, Humayun Akhtar Khan, Kashmala Tariq, Humayun Saifullah Khan, Haroon Akhtar Khan, Kishan Chand Parwani, Arbab Zakaullah, Ghulam Haider Samejo, Kabir Ali Wasti, Abdul Ghaffar Quraishi, Yaqoot Jamil Ur Rehman, Major (Retd) Ghulam Abbas, Iqbal Dar and other senior leaders of the party termed the budget a drama and fantasy which had nothing to do with reality as the government had no sources to finance  the budget (Rs 2.96 trillion). Hamid Nasir Chattha while criticizing the budget said that due to inaptness the circular debt has reached Rs 400 billion while it is further increasing to Rs 30 billion per month. Arbab Ghula Rahim said that Rs 617 million during the fiscal year 2012-2013 had been allocated for the President’s House per day expenses 1.6 million considerable increase of 27.8 per cent or Rs134 million. He said that PM secretariat was allocated Rs702.83 million, up 28% from the Rs546.58 allocated in the previous fiscal year. However, the secretariat ended up spending Rs741 million - far more than the designated sum. He said that keeping in view present financial crisis could country afford to increase expenditures for President and PM Houses!  Salim Saifullah Khan said that the budget deficit was Rs 1.12 trillion and to finance the deficit, the government has three options: to print, to borrow from domestic banks or to beg from foreign donors. He said if the government printed money, every Pakistani was going to be hit by inflation. He further said that the federal government would have to transfer 1.45 trillion to provinces under NFC (61 per cent), 21 per cent defence budget, (Rs 643.3 billion) so the budget disappeared while going through these figures. He further told that no sign of relief for industries as half of the industries have become non-operative due to the power crisis and no measure to tackle energy crisis, loss in power sector was Rs 400 billion, due to which thousand of people lost their jobs.

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