“The government that has wasted no opportunity in showcasing austerity-driven measures from buffalo sales to car auctions to raise a few million has gone on to approve a Rs 20 billion bailout package for brokers overnight,” lambasted Pakistan People’s Party (PPP) Parliamentary Leader in Senate Sherry Rehman on Saturday.
She added, “This decision to set up a stock market fund serves to rescue the wealthy. Given, the stock market has slumped 31 per cent since 2017, this is not the right approach”.
Senator Rehman noted, “They have been governing for almost a year now.”
“They tell us they need more time for fixing issues like inflation and employment, but when it comes to billionaires, the process of bringing them relief is suddenly accelerated and all the approvals are acquired quickly,” she continued.
According to PPP leader, “The government does not seem to know what direction it’s going in.”
Stock market fund announced to rescue the rich: PPP senator
“Today the government has increased the price of petrol by Rs 4, which will further increase the costs of food and transport for the people,” she wailed.
Rehman claimed, “It has allowed the IMF to steer the economy in whichever direction it deems fit.”
“It is taxing everything exponentially to raise revenue, but failing as the revenue shortfall has widened to Rs. 440 billion,” she asserted.
“This is not the first time,” the senator maintained, “The government has been quick to respond to the wishes of the wealthy.”
She alleged, “The tax amnesty scheme was the same policy wrapped in a different package. That too catered to lobbies and reward tax evaders as the taxpayers watched.”
“The Prime Minister assured the people that their tax money would be spent on them, he repeatedly complained about how the rich got richer and the poor got poorer in the country, but apparently it is his government taking from the poor and giving away to the rich,” Rehman concluded.
