Altaf Hussain terms Federal Budget protecting capitalists’ stakes

Posted on: 6/6/2015 1

The founder and leader of Muttahida Quami Movement Mr. Altaf Hussain expressed his extreme despair over the federal budget and termed it to protect only the stakes of the 2 percent of privileged class.
In a statement issued from London Secretariat, MQM Chief said that even the Federal Finance Minister Ishaq Dar admitted that the government could not achieve financial targets. He said that it was the time to implement agriculture tax and bring all the feudal and landlords into the tax-net.
Mr. Hussain slammed the increase in POL prices and said rather reducing the petroleum levies the government increased Sales Tax on electricity, gas and petrol, which definitely caused inflation hike. He said that the cottage industry was not promoted in the current budget while health and education also not got appropriate increase.
He said that Karachi earned 70 percent of the total revenue of the federal budget but it only got 16 billion rupees out of 1514 billion’s budget for development. He said that if such tradition would continue to protect the stakes of the privileged class, the country could not prosper or become developed.
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