ISLAMABAD: On Monday, the newly established party of former PML-N leaders Shahid Khaqan Abbasi and Misftah Islamil criticized the federal budget for being unreformed and burdensome for the salaried class.
The two leaders called for the government to reduce spending, end smuggling, and encourage businessmen to boost exports during a press conference.
He claimed that the government has increased taxes, particularly on individuals who already pay various taxes, rather than reducing its own spending. “No strategy has been implemented to increase the tax base and include non-taxpayers in the tax net.”
Mr. Abbasi criticized the funding to lawmakers, calling the plan “senseless” and claiming that it won’t matter if the pavement and drains aren’t finished for another year.
Non-filers, he said, will never pay a forty-five percent tax; instead, they will find ways to avoid paying taxes altogether.
He criticized the administration for not being able to accommodate the desire of others for tax exemptions on the properties of retired and martyred army officers and civil bureaucrats, claiming that other individuals would also want these exemptions.
With a warning that he sees a day when people may cease paying taxes altogether, he questioned, “Will the government impose a 65pc tax next year?”
According to Mr. Abbasi, Pakistan’s largest issue is that, despite the country’s 75 years of independence, exports have only grown to $30 billion.
“We have to raise it to a minimum of $50 billion,” he declared, saying that although the Special Investment and Financial Council was established to encourage investment, nothing has transpired up to this point.
Additionally, Mr. Abbasi asserted that there were no plans in the budget to privatize businesses that incur losses, such as Pakistan Railways and power distribution firms.
The former finance minister, Mr. Ismail, remarked during the event that the government has been holding the IMF accountable for its misguided policies.
