NADEEM MALIK LIVE
TOPIC- BUDGET 2014
GUESTS- NAVEED QAMAR, DR SALMAN SHAH, MOHAMMAD ZUBAIR, MOHAMMAD SOHAIL
NAVEED QAMAR OF PPPP said that all the claims the government made about the improvement in economic position have not been achieved. He said that the targets of load shedding, inflation and not relying on the loans are not achieved. He said that the government policy to get low interest loans to pay off higher rates loans is not correct. He said that by the end of the year because of the inflation the government will be paying same interest rates as the higher rates loans. He said that all the economic goals set by the government are under achieved. He said that the government needs to impose direct taxes indirect taxes are not going to help to improve the situation. He said that no taxes should be imposed on bank withdrawals instead taxes should be imposed on the earnings.
DR SALMAN SHAH ECONOMIST said that the government is building new roads and power plants but at the end of the year the economy will be at the point of the previous year. He said that the steps the government is taking in the name of the betterment of the economy can help running the government but not the economy. He said that the government has been failed to stand private sector on its feet so far.
He said that Pakistan is spending highest amount in the world to produce electricity. He said that the government should not compare its performance with last five years because that was the worst economic time in our history. He said that the government should put efforts to increase network like Jihad.
He said that the people have money in the foreign bank accounts should bring it back because there is no room for such a practice in the democratic system.
MOHAMMAD ZUBAIR ECONOMIC ADVISOR TO PM said that the target of the government is to reduce the budget deficit and it is working on it. He said that in the coming budget the government is going to emphasize on tax reforms. He said that big businessmen are coming to Pakistan for investment. He said that the world’s confidence has been increased because of the transfer of power from one democratic government to another first time in Pakistan. He said that the government is going to privatize UBL and OGDC in the near future transparently.
MOHAMMAD SOHAIL ECONOMIST said that some positive economic signs are seen in the first year of the government in power. He said that the positive results of the auction of G-3 will be visible in the next six months. He said that the government will get two or two and half billion rupees from the privatization of the institutions. He said that the government should impose more taxes on the purchase of the cars, air tickets, school fee and withdrawal of money from the banks.