'No direction, more unemployment': Opposition rejects coalition govt's budget.

ISLAMABAD -- The coalition government unveiled the 'toughest' federal budget for the next fiscal year 2022-23 with an outlay of Rs9.5 trillion as it seeks to fulfil the International Monetary Fund's (IMF) conditions, but the Opposition rejected the budget, criticising it for having 'no direction' which would lead to 'more unemployment'.

The federal government unveiled the budget amid strict conditions laid forth by the IMF for the revival of the $6 billion loan programme stalled for months over policy breaches.

In a video statement, PTI leader Hammad Azhar said the inflation will increase by 2%-3% in the country and the gross domestic product (GDP) will be halved - dropping from 6% to 2%-3%.

Azhar, a former finance and energy minister, said there was 'a lot of instability' in Pakistan's economy and the country was on the brink of default - a notion that Finance Minister Miftah Ismail rejected a few days back.

'In the budget, we did not see the direction that we needed to take the country out of the economic crisis and clear the uncertainty that the incumbent government has created,' Azhar said, adding that Pakistan would face 'more employment'.

Azhar said the budget was passed 'in a haste' and does not hold 'any importance'.

PTI Senator Ejaz Chaudhry said the government unveiled a 'people's enemy' budget and the nation would deal with the rulers themselves.

PTI Secretay-General Asad Umar wondered at what rate would the inflation rise when it witnessed an increase of 24% as compared to the last year.

PTI...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT