PESHAWAR: The Budget 2015-16, announced by the PML-N-led federal government, drew mixed reaction from the general public, but most of them were unanimous on one thing: there was no relief for them in the budget.
While a few said the budget was balanced under the prevailing circumstances, particularly the tax reforms for improving the feeble economic situations of the country and the five-year special tax exemptions for new industries and businesses in Khyber Pakhtunkhwa.
You might also like
A majority of them were of the opinion that the budget offered no relief for the masses and did not provide a lasting solution to the economic woes of the country. “This budget is not people-friendly” is how the opposition leaders had put it.
While talking to this scribe, people said the budget had brought nothing for the welfare of the general public, and termed it a “pro-industrialists” and “pro-rich” one, which has shattered hopes of the poor segment of society.
The general public rejected the federal budget as they have not been given relief. They said that the taxes on impoverished people have increased, while those on the industrialists have been decreased. They further said that the salaries of employees have not been raised in ratio of hiked prices of different items. They demanded the government to increase salaries by at least 20 percent to 30 percent, while the minimum wages be set at Rs 15,000.
Jamal Nasir, a business/financial expert, said the federal government has undertaken measures through special tax exemptions to terrorism-affected businesses and industries of Khyber Pakhtunkhwa. He said the step would not only revive the business, industrial and economic activities but also generate employment opportunities for the people in the province.
He specifically referred to the speech of Finance Minister Ishaq Dar, in which he announced a five-year income tax holiday on all new manufacturing units set up in Khyber Pakhtunkhwa.
Nasir further stated the economy of KP has suffered immensely due to terrorism and this is an effort to counter it. In order to revive the economy of KP and to provide relief to the people, some measures will be taken, he added.
Meanwhile, Khurram Awan, a salesman at a garments shop, said that the new budget will unleash a flood of inflation, unemployment and social unrest. He viewed that the incumbent PML-N-led federal government’s policies were widening the gap between the rich and the poor.
“Instead of giving relief to the poor, every year the budget and policies of the government serve the purposes of the elite,” he claimed.
“A number of taxes have been introduced in the budget, which could directly or indirectly make the poor masses suffer, while there was no tax exemptions on edible items,” said Javed Ali, a retired banker. He said, “The budget has been prepared by industrialists for businessmen sans relief and hope for the common man.”
Ali said there will be strong street protests and agitation against the federal government’s pro-elite budget. He noted that the entire financial policy revolves around the business cronies. He termed the budget as “anti-people and anti-poor”.
Ejaz Quershi, a retired government servant, said the only thing we heard in the budget speech was increase in taxes. He said that the prices of daily-use edible items would soar after the budget’s approval. “This is a pro-rich budget. It has nothing for the poor,” he added.
He further opined that the budget had disappointed the salaried people as well as the general public, which had high hopes from the rulers. He maintained that the federal budget for the next financial year did not provide any relief to the masses, and the targets fixed by the government were unrealistic and unachievable.
