In a budget debate held in the National Assembly, Defence Minister Khawaja Asif expressed deep concern about the state of the national economy, painting a grim and dismal picture. He highlighted the rampant tax evasion in the country, which had reached a staggering amount of Rs3,500 billion. Asif lamented that in a nation where 80% of the population struggles to have two square meals a day, the laws were being amended to favor the rich.
Loot and Plunder Market
Minister Asif pointed out the prevailing culture of corruption and impunity, stating that the “loot and plunder market” was thriving while there was a lack of accountability. He criticized the lack of effort to increase national wealth through enhanced fund collection and highlighted the mounting debt burden that the country faced. The interest payments on the national debt had surpassed the government’s total revenue collection, illustrating the dire financial situation.
Failed Institutions and Tax Evasion
The minister further shed light on the mismanagement of key institutions meant to eradicate poverty in the country. He revealed that the CEOs of these institutions were drawing hefty salaries of up to Rs3.5 million, despite their failure to fulfill their primary purpose. Asif also highlighted alarming figures of tax evasion across various sectors, such as real estate, tobacco, automobiles, auto lubricants, pharmaceuticals, steel, and tea imports. These sectors alone accounted for billions of rupees in lost tax revenue.
Justice System and Pending Tax Cases
Minister Asif criticized the role of the judiciary, claiming that more than 2,000 billion tax cases were pending without any resolution. He stressed that fundamental changes were necessary to address the systemic issues and present a surplus budget that would benefit the entire population. Asif emphasized that the solutions to these problems lie within the country itself, rather than relying on external institutions like the International Monetary Fund (IMF) or the World Bank.
Political Unrest and May 9 Incident
Referring to the violent riots that occurred after the arrest of PTI Chairman Imran Khan, Minister Asif warned about the consequences of a deteriorating economic situation. He claimed that an attempted coup had taken place, wherein certain ministers associated with Imran Khan were involved in attacks on various military installations. Asif urged for accountability and highlighted the need to educate the youth about these incidents to ensure transparency and justice.
Proposed Solutions and Criticism
In response to the prevailing crisis, Federal Minister Javed Latif proposed a solution that involved apologizing to former Prime Minister Nawaz Sharif, allowing his return, and acknowledging the mistakes made. However, Ghaus Bakhsh Mahar from the Grand Democratic Alliance (GDA) criticized the absence of federal ministers from the budget session and questioned the actions taken by the provincial governments of Punjab and Khyber-Pakhtunkhwa to prevent the attacks that occurred in May 2023.
Focus on Agriculture and Adjournment
Food Minister Tariq Bashir Cheema emphasized the need to prioritize the agro-based economy in the budget, as agriculture plays a significant role in the country’s overall economic growth. However, despite these concerns and proposals, the meeting was adjourned until the following day, leaving the fate of the economy uncertain.
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The statements made by Defence Minister Khawaja Asif paint a grim economic picture for the nation, emphasizing the rampant tax evasion, the burden of national debt, and the need for fundamental changes in budget transactions. The minister highlighted the importance of addressing these issues promptly to prevent further deterioration and potential political unrest. It remains to be seen how the government will respond to these concerns and take necessary steps to revive the economy and provide relief to the struggling population.
