Former Prime Minister Shahid Khaqan Abbasi criticized the constitution of a Commission of Inquiry to investigate the rise in debts over the last decade, during his speech in the National Assembly on Saturday (June 22).
“The government that could not collect Rs4,000 billion revenue, how will they collect Rs5,500 billion revenue,” he asked, expressing skepticism over the ruling party’s revenue target. The Pakistan Muslim League-Nawaz (PML-N) leaders also expressed concerns regarding the Commission of Inquiry to probe into loans taken by the governments during the last 10 years.
“Those [who have] no basic knowledge about the economy will review the decisions of the prime ministers, Parliament and cabinets,” stated Abbasi. “Taxes would not have had been imposed if the government with its incompetency had not increased the interest rate. The masses are being burdened with additional taxes. The government has also increased gas and electricity tariffs,” the former premier added.
“The only way [to achieve the FY2020 revenue target] is by further increasing inflation and prices of electricity and gas and devaluing the rupee even more,” he said. “The previous government was paying Rs1,400bn interest on foreign loans. This government has allocated Rs2,900bn for interest. This budget has been drawn up by the IMF (International Monetary Fund),” he declared.
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09 April, 2020