Budget 2024-25

The budget presented today in the National Assembly was very disappointing. It completely lacked the necessary reforms that Pakistan’s economy urgently needs, as the current economic model is clearly unsustainable and leading us towards disaster. There were no reforms in circular debts, federal pensions, taxation, etc.

It was expected that the budget for 2024-25 would bring retailers and agriculturists into the tax net, but due to political reasons, they remain exempt from actual taxation. Since the new federal government was formed in March 2024, it has been assuring the people of Pakistan about the speedy privatization of state-owned enterprises, yet this budget contains nothing about privatization.

I believe Pakistan’s economy cannot survive without structural reforms, and the current coalition government, led by Prime Minister Shahbaz Sharif, has missed an important opportunity to set the country’s economy on the right path. I can’t believe this budget was prepared and presented by the new finance minister, Mr. Aurangzeb Zafar, who is a highly qualified professional banker and a very capable person.



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