Dar terms budgetary targets unrealistic

ISLAMABAD - Terming the budgetary targets unrealistic, the opposition parties in Senate Wednesday said that the government had failed to provide any kind of relief to the masses in the budget 2011-12. The opposition parties in upper house of the Parliament, sans JUI-F, during a press conference said that the government did not take any step to control the soaring inflation, reducing poverty and unemployment in the budget 2011-12. They observed that Pakistans debt had gone up to a record level and said that the government did not have vision to resolve the economic problems of the country. Senator Ishaq Dar of Pakistan Muslim League (Nawaz) said, Pakistans tax to GDP ratio is around 10 per cent of the GDP and we need around 15 to 17 per cent to run the country. Therefore, the government is needed to increase it revenues instead of printing notes, which leads to higher inflation rate in the country. He further said that GDP growth was only 2.4 per cent that was very low which meant there was no growth and it should also be increased. Around 52 per cent people of the country lives below the poverty line, he said. He was of the view that the State Owned Enterprises including Pakistan International Airlines (PIA), Pakistan Railways, Pakistan Steel Mills and others were wasting Rs 400 billion annually and that needed to be controlled. Dar further said that countrys external as well as internal loans had increased to a record level. Similarly, the government did not allocate any fund for the small scale manufactures. Dar said that Rs 73 billion military pension was not part of Rs 495 billion fixed for defence for the upcoming fiscal year. He said that Chairman Senate should consider the decision of appointing leader of the opposition and they had the option to move the Supreme Court against this decision. Speaking on the occasion, Senator Professor Khurshaid Ahmad of Jamat-e-Islami said that the government had destroyed the economic situation of the country and corruption was increasing with the passage of every day. He was of the view that National Accountability Bureau (NAB) was ineffective to control the soaring corruption in the country. We have to move towards self-reliance instead of depending our foreign aids and loans, he maintained. The government has failed to resolve energy crisis for the last three years, he added.

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