The Pakistan Economy Watch (PEW) on Friday termed the fiscal year budget of 2012-13 as missing meaningful reforms. No steps were announced to reduce the fiscal deficit, contain inflation, ensure political and economic stability, and give relief to any section of society, it said. The statement of Finance Minister Dr Abdul Hafeez Shaikh regarding energy crisis was vague which left much to be desired, said Dr. Murtaza Mughal, president PEW in his statement. “The budget is nothing but continuity of failed policies which is based on imaginative targets which prove that government is not ready to ensure enabling environment, reduce expenditure or revive industry,” he added.
He said economic managers lacked will and capacity to initiate any reforms as it continued to blame former rulers even after five year, adding, there was no economic revival plan on cards, as it was a jugglery of words which would put extra-burden on the inflation-stricken public.
