Mr Asad Umar, senior Tehreek e Insaf leader and former CEO of Engro, expressed his views on the 2016-17 budget presented on 3rd June 2016.
Mr Umar said that the basic issue with the budget and the finance situation is that the direct tax collection is declining while we are continuously relying on indirect tax collections, which have increased upto 60 percent.
Mr Umar also commented that this indirect tax levying is a means for the government to earn money, rather than documentation of collections.
When he was questioned about the adjustment of the withholding tax, he replied that the federal board of revenue had failed to provide the actual statistics on that regard.
He said that in the three years of the Nawaz tenure, the average Gross Domestic Product growth has been 4.3%, which is less than the average growth of the past four decades, which was 4.6%, since the 70’s.
The PTI leader said that with the current financial policies and domains, the poor of the country are getting poorer by the minute, and the rich and the powerful and benefitting.