The opposition on Monday criticised the budget and blamed the government policies for increasing poverty in the country, referring to a report that indicated 42.6 percent people living below the poverty line.
Opposition leader in the National Assembly Chaudhry Nisar Ali Khan, who initiated debate on Budget 2011-12 presented by Finance Minister Dr Abdul Hafeez Sheikh on May 3, said the Asian Development Bank has referred in its report that 42.6 percent people in Pakistan are living below poverty line.
He said the budget prepared by the finance ministry officials without consulting the parliament does not offer anything to the poor of the country. "I was not able to find a single thing in the budget for the common man," he said and added that people friendly budget was possible by taking the input of the elected representatives but unfortunately all the suggestions given by the opposition have been ignored during the last three years.
Nisar said the focus of the Pakistan People's Party government was on borrowing from foreign and domestic sources and as a result total debt of the country has reached an alarming level. He said the government borrowing from banking sector has increased considerably during the current fiscal year and consequently created inflation and pushed more people below the poverty line, increasing unemployment by depriving private sector of the credit.
The opposition leader said the government figures speak volumes about its complete failure on the economic front and all the macroeconomic targets have been missed for the current fiscal year. The GDP growth has declined to 2.4 per cent against the set target of 4.5 per cent for the outgoing fiscal year and national saving, essential for investment in the country, has decreased from 15.4 per cent a year ago to 13.8 per cent. The investment has decreased to 13.4 per cent in the current fiscal year as compared to 15.8 per cent last year and tax collection was revised to Rs 1588 billion against the budgetary target of 1667 billion, he added. He said the overall performance of all the important sectors of the economy remained dismal during the last three and a half years of the incumbent government with inflation going up to 15 per cent against the set target of 9.5 per cent and fiscal deficit would end up as per government documents at 5.9 per cent against 4 per cent target set in the budget.
The opposition leaders said load shedding has made the life of common man miserable and even people of his constituency, Rawalpindi were facing 10 to 12 hours power outage. He said that budget prepared by the official of ministry of finance without taking on board the parliament does not offer anything to the ordinary people. "I could not find a single thing in the budget for the betterment of the people" he said this was happening because the government did not implement even a single suggestion proposed by the opposition to solve the problem of people. The opposition leader also criticised the government for not implementing the resolution passed by the joint sitting of the Parliament after in camera session on Abbottabad incident to fix the responsibility and said that he was not consulted while constituting commission.
Former Minister for Water and Power, Raja Pervez Asharf defended the budget and blamed war on terror for economic situation in the country that has not allowed the government to present a budget in line with the people expectations. He said that these are challenging times and even the opposition might not have been able to present a better than the budget presented by the government.