Inflation in Pakistan has skyrocketed to a massive 12-30 per cent in December last year and had jumped form 11.50 per cent in November 2021…reports Asian Lite News
Pakistan opposition parties restored to a ruckus in the National Assembly after the passing of the State of Bank of Pakistan (SBP) Bill and Mini Budget.
The National Assembly on Thursday passed the controversial Finance (Supplementary) Bill, generally known as the “mini-budget”, and the State Bank of Pakistan (Amendment) Bill 2021 during an hours-long session amid fierce objection from the opposition benches, according to Dawn.
Earlier, the finance bill and the SBP bill, both tabled on December 30 in the National Assembly were necessary to ensure that Pakistan’s sixth review of the USD 6 billion Extended Fund Facility gets cleared by the International Monetary Fund’s (IMF) executive board.
Pakistan’s economy is on the ventilator and inflation is at a 22-month high, any government that heeds the cries of the people protesting out in the streets would have put this mini-budget to bed a long time ago, the Opposition parties alleged.
On the other hand, inflation in Pakistan has skyrocketed to a massive 12-30 per cent in December last year and had jumped form 11.50 per cent in November 2021.
Further, Finance ( Supplementary) Bill 2021 also known as mini-budget seeks to amend certain laws on taxes and duties to meet the International Monetary Fund’s (IMF’s) conditions for the clearance of Pakistan’s sixth review of the USD 6 billion Extended Fund Facility (EFF) by the financial institution, paving way for the disbursement of a trance of around USD 1 billion.
Oppn discuss no-confidence
Pakistan Opposition Leader in the National Assembly Muhammad Shehbaz Sharif and President of the Pakistan Democratic Movement (PDM) Fazlur Rehman discussed the option of a no-confidence motion to oust the Imran Khan government.
Discussing constitutional and lawful options for the ouster of the PTI-led government in Pakistan, the time has arrived that every constitutional, lawful and political option is used against the government. We also discussed the option of a no-confidence move to oust the government and it will be an agenda item at the PDM heads meeting to be held tentatively on January 25 where the final decision will be taken after consultations,” Shehbaz told reporters, Dawn reported.
The two opposition leaders also decided to go ahead with the plan of March 23 long march and to vigorously oppose approval of the mini-budget in the National Assembly, reported The News International.
Notably, Finance (Supplementary) Bill 2021 also known as mini-budget seeks to amend certain laws on taxes and duties to meet the International Monetary Fund’s (IMF’s) conditions for the clearance of Pakistan’s sixth review of the USD 6 billion Extended Fund Facility (EFF) by the financial institution, paving way for the disbursement of a tranche of around USD 1 billion.
Furthermore, Shehbaz Sharif said that the moment has come to employ every constitutional, legal, and political option against the administration.
He added, “The country never experienced such an incompetent, inefficient and corrupt government which has placed 220 million people in miserable condition,”
Additionally, Fazlur Rehman has criticised the Election commission of Pakistan’s (ECP) decision to call the Pakistan Army for the second phase of local government elections in Khyber Pakhtunkhwa, reported the newspaper.
“In order for the institutions to be respected it is very important that they remain within their constitutional domain,” he added (ANI).