The National Assembly session has passed the third PTI government budget, in presence of Prime Minister Imran Khan who was also present in today’s session. The session was under way where lawmakers gathered to vote on the government’s budget for the new fiscal year 2021-22.
Prime Minister Imran Khan is present for today’s session, while former president Asif Ali Zardari and PPP Chairman Bilawal Bhutto-Zardari are also in attendance. The budget discussion started on June 11, 2021 and lasted today for conclusion of discussion.
The Finance Bill 2021-22 was thoroughly discussed clause by clause in the House. The approval of Finance Bill actually passes the budget FY 22. So far, amendments proposed by treasury members have been accepted while those proposed by opposition members have been rejected with a majority — 172-138 — vote.
The government had already defeated the opposition earlier on a motion moved by Finance Minister Shaukat Tarin for taking up the bill under consideration.
Earlier, Tarin lashed out at the opposition for its criticism of the government. He said that only food inflation had increased during the PTI government’s tenure and attributed this to the policies of past governments.
He said that the government was focusing on the agriculture sector which had been ignored in the past. “We are taking direct action, something that has never been done before,” he thundered, adding that the government was forced to go to the International Monetary Fund (IMF) due to the fiscal deficit it inherited when it came into power.
He said that the government will go after willful tax defaulters, adding that it was necessary to enhance the tax to GDP ratio to 20 per cent.
The minister also dispelled the opposition’s claims that indirect taxes had been imposed, adding that majority of Pakistan’s trade sector was not under the tax net. “Consumers are paying it but we are not receiving it,” he said, adding that the government will also focus on this.
PPP leader Syed Khursheed Shah criticised the budget because of the addition of a multitude of taxes prior to the finance minister presenting it in the NA.
He estimated that the government had proposed taxes collectively amounting to around Rs1,100-1,200 billion.
The budget failed to meet expectations, he regretted.
Shah added that a good budget ensured that people had food on their tables as “people’s wellbeing is symbolic of a good economy”.
The PPP leader also lamented that health and education sectors remained largely ignored in the budget this time around as well.
He particularly expressed concern over the fast population growth in the country, raising doubts that the government had any plan to meet with the demands of this fast growing population.
The rapid population growth is an “atom bomb in the making”, he remarked, asking whether the finance minister considered this factor while devising the budget.
“We need to think of incentives to limit the population growth,” and the federal government should address the issue, he stressed.
He further said the government had failed to provide any relief to farmers in the budget.
“Please make this budget a budget for the people,” he implored.
