‘Chandanomics’ cannot help economy: Senator Sherry Rehman


Senator Sherry Rehman lashed out at the federal government over its mini-budget, stating that “chandanomics cannot help run the economy”.

In her Senate speech, she criticised the Pakistan Tehreek-e-Insaf (PTI) government over high taxes on the working class and mocked the move of raising funds with the help of overseas and local Pakistanis.

“Had the same budget been proposed by us, the present govt would be lashing out at us, highlighting the plight of the poor. How is your jacking up of indirect taxes serving the poor then?” she asked.

Commenting on the budget, the senator said, “We were waiting for the big ticket budget of change, of tabdeeli. But no, all we see is sanction for big business, a gas price bomb, more borrowing and less development. Markets are uncertain. Don’t know how the current account deficit will go down, nor where the debt will be raised.”

Calling the step as “non-serious”, she urged the government to review the “black market budget”.

“If there was ever a status quo budget this is the one. It cuts PSDP, and boosts gas prices, imposes 90 billion in indirect taxes. It encourages the black economy and looks away from big changes. Back to the IMF?” she argued.

On Tuesday, Senator Rehman had expressed grave concern over the state of public finances and the “lack of vision” that defined the mini-budget presented by the PTI government.

“Pakistan’s economic situation is critical and the mini-budget does not even pretend to address the enormity of the crises we are facing. After all the claims of bringing real change, the actual plan falls short of providing answers to the bigger questions that spell imminent danger to the economy,” she said.