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Thursday, February 15, 2024

New budget for the fiscal year 2022-23

Miftah presented a new budget for the fiscal year 2022-23 after fixing the errors & revising accounting discrepancies

After all the hype of budget 2022-23 presented by PML(N)/PPP coalition government in the National Assembly, Miftah Ismail withdrew the original budget draft and after fixing the errors & revising the accounting discrepancies, presented a new budget for the fiscal year 2022-23.

No doubt, the government has given another chance to the opposition to label them as ‘incompetent.’

However, it has also been shared on twitter that new budget will result in all tax incentives given to the salaried class being taken back by the government. All these strict measures are being taken to comply with the conditions of IMF. It is of no doubt that PML (N)/PPP government has once again given a chance to the public as well as opposition to bash them.

Read more: Govt reverses tax relief for salaried class


Mubarak Zeb Khan shared the news in his tweet and labelled it as ‘Another U-turn’ by the government. Also, he has mentioned “tax relief to salaried class sacrificed at IMF altar.”

A question arises that in response to all the harsh conditions the economy is going through, what are the sacrifices being made or imposed upon the influential people within the government? Are they also responsible to cope up with the situation by cutting their expenses or it is just the general public who is sacrificing the most and trying to live with the mismatch between resources and needs?

Although, “Economic stability is our foremost priority, we have to set strong foundations of economic development that is based on sustainable growth,” said Finance Minister Miftah Ismail while presenting the budget in the National Assembly. However, it is not visible in their actions.

Moreover, it is of no wonder that PTI is no more demanding for fresh elections. Despite all the perceptions, let’s hope that the new budget brings a positive change for the country.