ISLAMABAD: A crisis hits the world every decade and in the current one, ours is Prime Minister Imran Khan, PPP Chairman Bilawal Bhutto-Zardari said during a National Assembly session Wednesday, as he berated the government over the Finance Bill 2021, dubbed by the Opposition as the “mini-budget”.<\/p>\n
Bilawal said the government’s deal with the International Monetary Fund (IMF) would have devastating effects on the nation.<\/p>\n
“You went to the IMF when you were weak […] and you made a weak deal with the IMF. We will not bear the burden of the deal. [The] common [man] and poor people will bear its burden,” the PPP chairperson said.<\/p>\n
The PPP leader said an “inflation storm” will hit the country if the government passes the Finance Bill 2021, generally known as the “mini-budget”.<\/p>\n
The government is seeking to pass the Finance Bill 2021 and SBP Amendment Bill, as it is a pre-requisite to resume the $6 billion External Fund Facility (EFF) of the IMF.<\/p>\n
Bilawal said the government’s “arrogance” came in the way of it holding talks with the Opposition over its deal with the IMF. “We asked you to consult with Asif Ali Zardari and Shahbaz Sharif, but you [the government] rejected the proposal.”<\/p>\n
After passing the “mini-budget”, you will not be able to set foot in your constituencies, Bilawal told the treasury benches, adding that a trailer of it was witnessed during the Khyber Pakhtunkhwa local body polls \u2014 where JUI emerged victorious in the first phase.<\/p>\n
“The incumbent government’s lawmakers cannot face their voters in their constituencies […] you will soon be under the people’s wrath,” he said.<\/p>\n
During the 2018 general election campaign, PM Imran Khan had vowed that he would go to Prime Minister’s Office on a bicycle, but he goes there on a helicopter, Bilawal said.<\/p>\n
Bilawal Bhutto dissects ‘mini-budget’<\/strong><\/p>\n Bilawal said that through the proposed bills, the government seeks to hike taxes on cars, petrol, cycles, motorbikes, mobile phones, internet, laptops and prepaid calling cards.<\/p>\n “You aren’t just taxing imported items, but you are also imposing taxes on locally manufactured goods. The government is taxing eggs, poultry, and seeds \u2014 this is the economic murder of farmers.”<\/p>\n The PPP chairman said the government was imposing a 17% tax on agricultural goods and foreign aids. “We have seen enmity with the poor and the people, but this government is the state’s enemy.”<\/p>\n ‘Confusion over economic policy’<\/strong><\/p>\n Bilawal said a “confusion” over the economic policy prevails, which would ultimately lead to the “death” of the country’s economy. He pointed out that in the early days the government claimed that it would not seek assistance from the IMF.<\/p>\n “The government [has since then] made wrong decisions of putting the burden on the people.”<\/p>\n The PPP chairman said Pakistan had never witnessed such bad economic growth as it has during the PTI’s tenure. “Even when we split into two countries \u2014 Pakistan and Bangladesh \u2014 our GPD growth was still not negative.”<\/p>\n Bilawal said PM Imran Khan was “solely responsible” for the historic inflation in the country, as he noted that several crises \u2014 including gas and urea \u2014 hit Pakistan recently.<\/p>\n Dissecting the SBP bill<\/strong><\/p>\n On the SBP bill, Bilawal suggested that the SBP amendment bill should be named “State Bank slavery bill”, as the government could not borrow money from the central bank.<\/p>\n He said the governor of State Bank’s tenure was being moved up from three to five years and that the officeholder would not be answerable to the National Accountability Bureau (NAB) and Federal Investigation Agency (FIA).<\/p>\n “This is an NRO […] the State Bank will now be answerable to international institutions and not the parliament,” he said.<\/p>\n