Shaukat Tarin terms Budget 2022-23 'pack of lies'

ISLAMABAD: Former Finance Minister Shaukat Tarin has termed the Budget 2022-23, presented by the coalition government, a pack of lies, ARY News reported on Friday.

Talking exclusively to ARY News, the former finance minister said that the incumbent government has started with lies and malice.

He pointed out that the rate of economic growth will not remain at 5 percent, adding that there was a contradiction in their statistics.

Shaukat Tarin further said that inflation rate would likely to increase to 25 or 30 percent. “As the prices of petroleum products and electricity increase, so will the inflation,” he added.

The former minister said that it is not known how the International Monetary Fund (IMF) has approved this budget. “The Fund has prevented the PTI government from taking such steps,” he added.

Referring to the Economic Survey Report 2021-22, the former finance minister said that the report revealed the performance of the economy for the outgoing fiscal year with a growth of 6 percent.

“The economic growth reached 6 percent in our tenure since the 90’s. 4.4 percent growth in agriculture sector in our government is the highest in 30 years,” Shaukat Tarin noted.

Earlier in the day, the federal budget 2022-23 with 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’.

He said that keeping in view the current economic situation, the government has decided to cut the operating expenditure to maximum so there will be a complete ban on buying new furniture, stationary for govt offices. There will also be a complete ban on govt-sponsored foreign trips other than necessary diplomatic visits.

Miftah Ismail said that Budget 2022-23 will focus on providing facilities to farmers growing crops that produce cooking oil, like corn and sunflower, so that the country doesn’t have to import palm oil, which is touching a record high in international market.