Pakistan has targeted state revenues at 3.234 trillion rupees for the fiscal year ending in June 2013, Finance Minister Abdul Hafeez Sheikh told Parliament.
It has also targeted tax revenues at 2.381 trillion. It has earmarked budget spending at 2.96 trillion rupees ($31.58 billion).
The general reaction over the budget is that the President Asif Ali Zardari-led PPP government has practically kick-started the party’s election campaign through this so-called people-friendly budget — the final before the election for a new parliament. The government is heavily dependent on foreign aid and loans from various donor agencies.
A scuffle between the treasury and opposition members marred the budget session. Opposition members chanted slogans against the sky rocketing prices due to bad governance
After registering their protest the opposition PML-N party boycotted the budget session.
Punjab Chief Minister Shahbaz Sharif along with other MPs headed for Pattoki to demonstrate against the federal government for unprecedented power cuts in the province.
Earlier, the cabinet headed by Prime Minister Yousaf Raza Gilani approved the annual budget that was presented in the national assembly where ruling coalition still holds the majority.
Government announced up to 20 percent increase in government employees’ salaries. Pensioners were also given a slight increase.
More than 29 trillion rupee budget has over 11 trillion rupee deficit and no measures were announced to overcome the energy shortage in the next financial year, the opposition said.
Businessmen and traders in Islamabad, Lahore, Faisalabad and other places across the country expressed their extreme dissatisfaction over the lack of vision in the budget and said they were disappointed that there was no mentioned in the budget speech of how power shortages would be dealt with and energy needs met.
The finance minister admitted that the country was faced with several problems.
Opposition leader in the National assembly Ch. Nisar Ali Khan criticized the budget and said: “If the government had any element of decency, it wouldn’t have presented the fifth budget.”
