Budget will raise unemployment and inflation | Protest campaign against the govt has been announced

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Geo Pakistan | 17th June 2024
جیو پاکستان ۔ 17 جون 2024ء

The Pakistan Tehreek-e-Insaf (PTI) has strongly criticized the budget for the fiscal year 2024-25, claiming that it will significantly worsen inflation and unemployment in the country. PTI leaders have labeled the budget as "poisonous" and "a bundle of contradictions," arguing that the new taxation measures will lead to a surge in inflation and economic hardships for the general populace.

The budget includes modifications to tax slabs for salaried individuals and increased taxation on sectors such as real estate, which PTI claims will diminish purchasing power and push more transactions into the informal economy. Additionally, the budget's projected GDP growth of 3.6% is considered unrealistic by the opposition, with inflation expected to far exceed the government's target of 12%.

In response to the budget, PTI has announced nationwide protests. The party asserts that the government's fiscal policies, allegedly influenced by the International Monetary Fund (IMF), will exacerbate the country's economic difficulties and burden taxpayers.

These economic challenges, coupled with the government's approach, have led to widespread dissatisfaction and a call for early elections by PTI to address the economic mismanagement and restore stability.
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