Budget termed damaging

Staff Report

ISLAMABAD: Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr Shahid Rasheed Butt on Monday said budget is more damaging for the masses than the coronavirus. Continued mini-budgets have added to the miseries of masses and prices of
everything is going out of reach of poor and middle-income groups. Profiteers have pushed prices of essentials to unprecedented heights pushing
millions below the poverty line, he said. Shahid Rasheed Butt said that elite class is plundering the masses and resources while relief has become a prerogative of the influential.
The monthly budget of the people has been dented heavily due to rising inflation as prices of all kitchen items have witnessed a sharp rise but the authorities seem unconcerned, he added. The business leader noted that the tall claims of economic development are not going down well with the masses and ground realities are contrary to the statements of rapid national development.
The reduced buying power of the masses is leading to social and mental problems while the crime rate is on the increase. He noted that every year 4.4 million people are added to the population putting stress on weak infrastructure and resources while the system is failing to provide employment opportunities. Mr. Butt noted that inquiries and actions against sugar mills were eyewash otherwise, the price of the commodity would not have touched the extraordinary high in the markets.