Federal budget attracts mixed reaction from politicians, traders

PESHAWAR: Federal budget for financial year 2022-23 has received mixed reaction from politicians, traders, government employees and general public.

In his comments on the budget, veteran politician and chairman, Qoumi Watan Party (QWP), Aftab Ahmad Khan Sherpao has said that the budget lacks relief for general public. He said that the pressure of the International Monetary Fund (IMF) and weak economic conditions inherited from the previous government have created hardships for the coalition government.

Aftab Sherpao was critical of the failure of the present provincial government in playing their role in rights of the province, particularly royalty on various resources. He said that the development of KP is not focused while tribal districts were also not paid funds as per commitment of the political leadership, which is spreading dismay among the people of the province. He said that the Public Sector Development Programme (PSDP) of the federal government is lacking any significant project for the province.

Sherpao was also critical of the former Prime Minister Imran Khan for alleged usage of Pakhtuns for obtaining his political objectives.

Ikhtiar Wali Khan, a PML-N affiliated member of the KP Assembly said that Prime Minister Shehbaz Sharif had deserved full credit and appreciation for presenting an inclusive budget in which relief was provided to all segments of the society. He said the government had prepared a better budget in a period less than two months. He said repeated change of finance ministers by the PTI Government has triggered economic and fiscal problems.

Ikhtiar Wali said economic stability was the top most duty of the government and efforts were being made to increase exports to bring socioeconomic prosperity. He said the PTI government has taken Rs 20,000 billion loan in the last four years at the rate of Rs 5,000 billion loans per year.

The federal budget has disappointed the local trading community, who has declared it an imported budget from IMF that lacks relief for both trading community and general public. In this connection, the Traders’ Alliance, a local body of the trading community also held an emergency meeting with Chairman, Mujeeb-ur-Rehman in the chair. Those who attended the meeting were including Shaukatullah Hamdard, Mohammad Shaukat, Aftab Ahmad, Jehanzeb Khan and office bearers of various bazaars.

The leaders of the trading community criticized the budget and termed it economic murder of the business community, saying it will trigger price hike in the country. They said that it will abolish the business of small traders and increase unemployment. They attributed 45% increase in the power and gas tariff as sheer injustice and demanded immediate withdrawal of the new rates of utilities, generation of new employment opportunities and preparation of new line of action for provision of relief to trading community.

In the meanwhile, the government employees has welcomed increase in the salaries and has demanded of the provincial government to follow the foot-prints of the federal government and announce increase in the salaries of the provincial government employees with the same ratio.

Vice President Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Zia-ul-Haq Sarhadi has appreciated the federal budget for financial year 2022-23 as relief oriented and balanced. In his comments on the federal budget, he said that increase in salaries of government employees and pension of retired government servants is a great relief. He appreciated withdrawal of taxes on installation of solar panels that will help people in coping with prevailing wave of electricity shortfall ensuing in hours long power outages. He said that reducing prices of renewable sources of electricity will help in more power generation. He said the measures taken by government for promotion of Pak-Afghan trade is also appreciating and expressed the hope that such an approach will be continued in future for increasing the volume of regional trade.

Copyright Business Recorder, 2022