The much awaited pessimisms related to Budget 2010-2011 has revealed. As always govt. are happy with the budget presented, opposition busy in criticism and masses are disappointed, but the most important thing that industrial sector isn’t even happy with the budget. The central information Secretary Fauzia Wahab has said (as always justifying PPP) that recently presented budget is the "best budget" ever presented in Pakistan. By increasing 1% in General Sales Tax to 17% is the right decision and minor inflation will be experiences by the masses (1% seems 1 but in economics obviously the after effects are quite bigger than just merely number 1).
According to the shows conducted on the Pakistani television channels none of the entities (masses, classes, industrial sector etc.) is happy the way things are announced, the people are saying that neither it is public friendly budget nor indstry friendly the is only IMF-friendly.
Below is the video of my program maeshat-nama moderated by Syed Azhar Bukhari discussing Flaws and Opportunities in this budget 2010-2011 with Sudhir Ch. (Daily Times) and Rizwan Ali (Apna News).
There is also a pessmistic appraoch towards development programs in Pakistan. Experts are commentng that figures presented in PSDP is as always an illusion and wont do any pracitical results.
After the 18th Amendment much of the responsibility is on the shoulders of Provinces and now it is to observe that what they have to tell us. Also video below has renowned economist Dr. Shahid Hassan Sidiqui commenting the after effects of Budget 2010 and predicting that there may be a Mini-Budget observed in Pakistan in October of this year.
The only things that was regarded and appreciated heavily was the 50% increment in Govt. employees (though theses are very few in numbers as compared to population of Pakistan), but majority of basic needs of population has been severly avoided, discussed below by renowned Economists and ex. Finance Minister Dr. Salman Shah.
Now on conclusion of this program, I managed to talk with Omer Ayub Khan, ex. finance minister of Pakistan, that what are the views of Opposition regarding this budget.
As far as whole scenario is observed, I personally think that despite of global recession and effect of terrorism in Pakistan along with energy crisis, the government may think that they had presented the "best budget" but of course one can not deny that many things are avoided which are basic needs of population of Pakistan, and obviously political parties are playing with these issues on there political battlefield as always.
Some News Links related to Budget 2010-2011
Budget Highlights in Daily Times
Budget Highlights in Daily Nation
Budget Highlights in Daily Dawn
