ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Chairman and former prime minister Imran Khan has rejected the federal budget for FY2022-23 and termed it an ‘anti-people and anti-business budget presented by the imported government’, ARY News reported on Friday.
He said in a Twitter thread, “Budget is based unrealistic assumptions on inflation (11.5%) and economic growth (5%).”
“Today’s Sensitive Price Index (SPI) of 24% indicates that inflation will be between 25/30% which on the one hand will destroy the common man,” he added.
READ: Rs9.5 trillion budget presented for FY 2022-23
“And on the other hand, retard economic growth due to high interest rates. All our progressive tax reforms and pro-poor programs such as Sehat card, Kamyab Pakistan are being shelved. It is an unimaginative, Purana Pakistan budget creating more burdens and misery for the nation,” Khan concluded.
READ: BUDGET 2022-23: FULL TEXT OF MIFTAH ISMAIL’S SPEECH
FEDERAL BUDGET 2022-23
The federal budget 2022-23 has a total outlay of 9502 billion rupees has been announced, encompassing measures for what the government termed ‘sustainable economic growth, industrial and agriculture development and relief for the poor people’.
Major points and announcements
- Remittances target 33.2 billion PKR
- GDP growth target set at 5 per cent
- Inflation to be brought down at 11.5 per cent
- FBR Revenue Target at 7004 billion PKR
- Non-Tax revenue target at 2000 billion
- Import target at USD 70 billion
- Export target at USD 35 Billion
- End of 8 percent withholding tax on distributors, producers
- Advance tax will be increased on cars above 1600cc
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