Islamabad, April 24, 2018 (PPI-OT): Islamabad Chamber of Small Traders on Tuesday said the upcoming budget is not being finalized on economic considerations but on the political contemplations. The government will announce decisions to please voters which would be short-lived as the implementation of the decisions will be the responsibility of the next government, it said. The current government is trying best to gain as much political mileage as it can while the next one would be pressed to seek IMF’s loan sooner or later to save the country from default, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
Pakistan will enter into IMF’s programme which will start choking economy in the name of stabilization while some mini-budgets will also be introduced, he added. Shahid Rasheed Butt said that deficit was projected to be 4.1 percent of the GDP while it is touching the mark of 6.5 percent which is a record but the incumbent government has to avoid unpopular decisions. Salaries and pensions would be enhanced and a package for agriculture sector would be announced adding to the deficit while defense budget will cross the mark of one trillion rupees.
The business leaders said that subsidies would not be slashed in the upcoming budget which can result in anger in the nobility whose support is necessary for the election. The government will announce popular moves adding to the expenditures which will have to be reversed or adjusted by the next government while achieving the growth target of 6.2 percent would be a herculean task.
For more information, contact:
Islamabad Chamber of Small Traders and Small Industry (ICSTSI)
24-D, 3rd Floor, Rashid Plaza Blue Area, Jinnah Avenue, Islamabad, Pakistan
Phone: +92-51-2801045
Email: icstsiofficial@gmail.com, info@icstsi.com.pk
Website: http://icstsi.com.pk/