Jamaat-e-Islami Pakistan’s leader, Siraj-ul-Haq, expressed his disappointment on Friday, criticizing the federal budget for the year 2023-24. He stated that the repayment of loans has severely harmed the national economy, with an 85% increase in loan repayments compared to the previous year.
Reacting to the federal budget, he mentioned that more than 55% of the total budget of Rs. 14.46 trillion for the fiscal year 2023-24 would be spent on interest payments.
He further stated that Finance Minister Ishaq Dar has failed to fulfill his promise of eliminating interest (usury).
He criticized the government for neglecting the merged districts of Khyber Pakhtunkhwa, Balochistan, and FATA.
Regarding this matter, he added that an announcement of a nominal amount has been made according to the needs of these regions.
He stated that the government has no mechanism to collect Rs. 9.2 trillion in taxes, as their target was contrary to the ground reality.
He also mentioned that the Federal Board of Revenue (FBR) collected approximately Rs. 500 billion last year.
He expressed concern that the government will present another mini-budget in the near future to fulfill the demands of the IMF (International Monetary Fund).
