Pakistan opposition rejects budget 2024-2025, disputes key figures

In this photo released by the Pakistan Finance Ministry Press Service, Pakistan’s Finance Minister Muhammad Aurangzeb speaks and parented, the Federal Budget before the National Assembly of Pakistan, in Islamabad on June 12, 2024. (Photo courtesy: Finance Ministry Press Service)
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Updated 16 June 2024
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Pakistan opposition rejects budget 2024-2025, disputes key figures

  • Finance Minister Aurangzeb presented $67.76 billion budget in parliament on Wednesday 
  • Opposition lawmakers allege government did not provide budget documents for their review

ISLAMABAD: Pakistan’s opposition lawmakers on Wednesday rejected the federal budget for the year 2024-25, alleging that the government had not fulfilled its constitutional requirements of providing budget documents for them to review and disputing key figures provided by Finance Minister Muhammad Aurangzeb. 
The finance minister unveiled the much-awaited Rs18.877 trillion ($67.76 billion) federal budget for FY 2024-25 that set an ambitious revenue collection target of Rs13 trillion ($46.66 billion). The budget is expected to play a pivotal role in Pakistan’s negotiations with the International Monetary Fund (IMF) to unlock yet another loan program. 
Opposition lawmakers from the Sunni Ittehad Council (SIC), backed by independent candidates affiliated with jailed former prime minister Imran Khan, protested during Aurangzeb’s speech. 
As they shouted slogans, the SIC lawmakers carried placards with “Release Imran Khan” written all over them. Throughout most of the finance minister’s speech, opposition lawmakers gathered in front of the Speaker’s dais and kept shouting anti-government slogans.
“A fake budget has been presented today, we reject it completely,” Omar Ayub Khan, the leader of the opposition in the National Assembly, told reporters after the budget session.
“This is a joke with the nation and Pakistan.”
He described the budget as “illegal and unconstitutional,” saying the government had not provided budget documents for the opposition lawmakers’ perusal. He said it was possible the government would change important figures in the document by the next National Assembly session to be held on June 20.
“I want to categorically say here that today for the first time in the parliament, glaring constitutional violation has taken place during the budget,” he said. 
He disputed the government’s figures that said the gross domestic product (GDP) had grown by 2.38 percent, the agriculture sector by 6.25 percent, and the industrial and services sectors had each grown by 2.1 percent in the outgoing fiscal year.
“The budget they are presenting, this is not the real growth rate,” he alleged. 
Meanwhile, Aurangzeb credited the government’s policies for stabilizing the country’s economy. He noted that Pakistan’s reserves were no longer in a precarious situation and that the country’s economic indicators were improving. 
“Mr. Speaker, I think that despite political and economic challenges, our progress on the economic front in the past one year has been impressive,” the finance minister had said in his budget speech.

 

 

 However, SIC lawmaker Shandana Gulzar Khan said the public should have derived the maximum benefit from the government’s budget. Instead, she said they would have to pay heavy taxes. 
“You want to fix this country, you give this country to the people,” Gulzar told Arab News.
“Those who are paying taxes, you ensure that they get the maximum share of the budget, that they are able to send their children to school, that they are able to eat three times a day and they have access to a health card,” she added.

 


UAE, Pakistan launch new feeder service to strengthen maritime connectivity

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UAE, Pakistan launch new feeder service to strengthen maritime connectivity

  • The new service establishes a regular shipping link between Karachi and the UAE ports of Fujairah and Khor Fakkan
  • It will support supply chain continuity and help ensure Pakistan’s trade maintains dependable access to global markets

KARACHI: Pakistan and Emirati authorities have launched a new feeder service linking Karachi with the UAE ports of Fujairah and Khor Fakkan to strengthen maritime connectivity, the Karachi Port Trust (KPT) announced on Thursday.

The UAE is Pakistan’s third-largest trading partner, after China and the United States. Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs

The new service establishes a regular shipping link between Karachi and two of the region’s key transshipment hubs, enabling Pakistani importers and exporters to maintain reliable access to global container shipping networks.

The service will call at the Karachi Gateway Terminal Limited (KGTL), part of AD Ports Group’s international operating arm, Noatum Ports. The first vessel of the service arrived at KGTL on the evening of 11 March, officially marking the start of regular operations.

“The introduction of this feeder service further enhances Karachi Port’s connectivity with key regional hubs and supports Pakistan’s growing trade requirements,” KPT Chairman Rear Admiral (Retd.) Shahid Ahmed said in a statement.

“Strengthening maritime links with the UAE will help facilitate smoother cargo movement while providing greater flexibility for the country’s trading community as per the vision of honorable Minister for Maritime Affairs Mr.Junaid Anwar Choudhry.”

Pakistan’s economy relies heavily on maritime trade, and strengthened connectivity with regional transshipment hubs provides additional resilience for exporters, importers and supply chains. The new feeder link supports supply chain continuity through KGTL and helps ensure Pakistan’s trade maintains dependable access to international markets, according to KPT.

Cargo routed through Fujairah and Khor Fakkan will benefit from seamless connectivity to regional and international shipping networks, supported by the UAE’s advanced logistics infrastructure. Containers can be efficiently transferred via integrated road and rail corridors to major commercial hubs and logistics centers across the UAE.

“The commencement of this feeder service reflects KGTL’s continued commitment to strengthening Pakistan’s maritime connectivity and supporting the country’s trading community,” said KGTL Chief Executive Officer Khurram Aziz Khan.

“By linking Karachi directly with major UAE transshipment hubs, this service provides importers and exporters with reliable access to global shipping networks while reinforcing the role of Karachi Gateway Terminal as a key gateway for international trade.”