
KARACHI:
If we were to listen to the budget speech of any of our former finance ministers, it would be more or less the same. Similarly, the hurls unleashed by the opposition on the government also remain the same with only the faces changing. Presenting the annual budget of the country is a very serious matter. It requires focus and mature discussion-making on the part of the treasury and the opposition benches in order to ensure that the country stays out of financial crises. A copy of the budget is presented to each member, which they are supposed to read and discuss in the National Assembly. However, our members hardly ever open the document. The script of the farce in the National Assembly remains the same.
The government claimed that ‘Mulk eik nazuk daur sey guzar raha hai [the country is going through a sensitive phase]’ and that all the financial misery of the country was due to the previous governments. Many a time, the minister presenting the budget and making this claim is the one who also had presented the previous budget he/she is condemning. Without changing anything substantial, the ruling party always claims that they have presented a budget that would change the fate of the country. The opposition always accuses the government of presenting a ‘people-unfriendly’ budget. The opposition parties raise hues and cry during the session while the ruling party members shower praises on their government. This drama never changes and the country keeps slipping into an economic abyss. The same happened yet again when the mini-budget was presented. The opposition continues to accuse the government of selling the country to the IMF. The government on the other hand is claiming they have done wonders considering the severity of the situation they had taken up.
The fact of the matter is that we spend more than we earn and have always depended on foreign aid and loans. We are so deep in this vicious cycle of loans that it has become impossible to survive. The only solution would require tough measures to cut down our spending, including the defence budget, and increase the tax net. Without this, we will never be able to achieve economic sovereignty.
Raja Shafaatullah
Islamabad
Published in The Express Tribune, January 4th, 2022.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.