Barrister Ali Zafar Praises Budget 2021-22 in Senate Speech

Barrister Zafar began his speech by highlighting its positive aspect of helping both the rich and poor of the country. He mentioned that Pakistan’s budget policy used to be only “the trickle down policy” but this time the addition of the “bottoms up approach” was a very much needed policy. Both policies together will help Pakistan to rise better.

He added that through this budget we can clearly see PM Imran Khan implementing his life long vision of a better Pakistan. Hundred million has been allocated for an anti-rape fund which is very good and much needed policy.

Barrister shared in his speech that “Freedom of Speech” is the only way for democracy to flourish in any country. He raised his voice for the violence against journalists of Pakistan and demanded a formation of a commission to put a stop to it.

Zafar added that Pakistan faced a huge economy instability in June 2018. Government was under Rs.30 Trillion of debts with a huge downfall in imports and exports. The fiscal deficit had reached 6.6% of GDP. while Government was facing such challenges, Covid Pandemic appeared which destroyed economies around the world.

But Pakistan not only managed to secure its economy but out Industry grew by 9%, Exports grew by 14%, historic productions were seen in agriculture, Stock exchange made new records and Farmers’ income grew to Rs.3100 Billion.

Now was the right time for the Budget Growth. The best and unique step taken was pointing out the major issues and problems being faced by different sectors and departments and there solution is also presented allocating their specific budget.

Barrister Zafar highlights the problems mentioned in the budget and praises the solutions presented for them. He points out that Pakistan became food deficient country from food exporting economy. To control food prices being raised in Pakistan the solution presented is modernizing agriculture, build storage houses and cold storages.

He explains that the formation of Market Road Infrastructure is a very long overdue strategy which should be implemented but price control mechanism will not work. In fact it will lead to black marketing and smuggling which couldn’t be stopped. The best point is to focus on implementing agri-loans and agri-cards, support water fertilizers, purchase tractors and machinery which will bring the revolution we need.

While the budget ensures providing financial help, loans, health and food cards it should also focus on the protection of Human rights violation. Funds should specially be allocated to enhance the capacity and capability of the Ombudsman Officers but may be we can leave this for the next budget.

As a lawyer he presented a problem saying that there are cases of Pakistani expatriates investing in Pakistan and facing such hardships that end up packing their businesses in dejection. Our export industry can only improve if we can ensure that the business environment is improved.

In this budget Rs.33 Billion has been kept for the construction law which will be proved to be a highly successful decision. Loans for construction will now be available for common people through micro-finance.

Energy Sector has been facing circular debt issue addressed in the budget. A management plan devised for it to restructure the debts with the agreement of the other stakeholders and private sector industries is the best solution provided.

Ali Zafar points out that the budget lacks solar energy plan which should be devised for every home as we face electricity issue.

He appreciates the budget allocation for water security by construction of dams. And adds that the enforcement of our fundamental rights of water under the Indus Water Treaty should be added. The  dispute with India should be resolved.

C-PEC Law has now been passed which is a great initiative by government of building of projects, and particularly export oriented projects.

The another great aspect of the budget is the Federation Strengthening budget which includes 5 Regional Integrated Development Plans. These are accelerated development for poor areas in Balochistan and Gilgit-Baltistan, Karachi Transformation plan, Sindh Development Plan and Funds for FATA.

Before ending the speech, he praised Tax Reform feature which includes Self-assessment scheme, audit by automation and by independent third parties, concept of Alternate Dispute Resolution (ADR), Removal of withholding tax and the implementation of sales tax upon retailers and wholesalers through technology.

Barrister Ali Zafar concluded his speech saying that the budget is the prediction by government that how it will generate various new sources of revenue and then how it will spend them. The budget is no doubt very positive. Some will say even “ambitious”.

He added that next year once everything will be completed, the opposition members will stand up and applaud.