Karachi, In a recent statement, Irfan Sayed, an economic expert and think leader of the Pasban Democratic Party (PDP), emphasized the urgent need for the upcoming budget to be people-friendly and provide relief rather than imposing further sacrifices on citizens. He criticized the current fiscal policies for exacerbating socio-economic issues and failing to secure a prosperous future for Pakistan.

According to Pasban Democratic Party, Sayed outlined the challenges faced by Pakistan, including severe price hikes, increasing unemployment, and a lack of credible governance. He highlighted the detrimental impact of high taxes and utility tariffs dictated by the IMF, which strain the public and stifle economic activity. Sayed noted the significant rise in petrol prices over the last four years and discussed the adverse effects of high interest rates on small and medium enterprises (SMEs), leading to bankruptcies and job losses.

Sayed also critiqued the taxation system, which benefits a wealthy elite while draining national resources. He suggested that taxing sectors like real estate, retail, and agriculture could discourage investment in these areas, potentially shifting focus to manufacturing and other critical industries. Additionally, he addressed the issue of stagflation in Pakistan, characterized by high inflation, stagnant growth, and increasing unemployment.

He concluded by urging the government to focus on alleviating the burdens faced by ordinary citizens in the forthcoming budget, instead of demanding more sacrifices, to foster a more equitable economic environment.