Budget 2024-25: Pakistan likely to impose more taxes and other top stories
Budget 2024-25: Pakistan likely to impose more taxes and other top stories
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00:00 The performance that you have shown us in the last year,
00:07 now the question is, if you compare it with the performance of last year,
00:13 and now we are moving towards budget making,
00:16 so, keeping that in mind,
00:18 the expectations that people have from the government in the budget,
00:23 that they will get some relief,
00:26 or the book that is open in front of us, there is no chance.
00:31 Look, we will try for relief,
00:33 but the thing is that until we increase our tax revenue,
00:36 there is a huge tax gap,
00:38 approximately 2 trillion plus,
00:41 which is given to the Marathi sects in Pakistan,
00:44 to big investors, big industrialists,
00:47 until that is not limited,
00:49 until then the tax revenue in Pakistan will not increase.
00:51 Until we increase the tax revenue,
00:52 how will you give relief?
00:53 We will only give BFP,
00:56 not catching fish, but eating fish.
01:00 So, until we,
01:02 similarly, how will we get relief for reducing inflation,
01:05 how will we get relief for the electricity bill,
01:07 how will we reduce the capacity charges of 2 billion rupees,
01:10 we will not talk about that in detail,
01:12 we will explain to the people with whom we have made agreements,
01:15 that the deficit of 2 billion rupees in Pakistan is only going in the capacity charges.
01:20 We are doing the bill of 1000, and the charges are double that,
01:24 so when will we negotiate that?
01:26 And the losses of climate change,
01:29 the losses of 30 billion dollars.
01:31 Ok, tell us in general terms,
01:33 how much is the total income of Pakistan at this time,
01:36 what are our annual expenses,
01:39 how much money do we have to give in interest,
01:42 and how much loan will we need to run the country every year or next year?
01:47 Our deficit is about 9.7 trillion rupees.
01:52 9.7 trillion rupees.
01:54 Yes, 9.7 trillion rupees.
01:56 We have to give this amount in loan and interest.
02:00 The amount we have to give in loan and interest,
02:02 that much we will be going into the deficit.
02:05 Then, on top of this,
02:07 it will be about 20% interest rate,
02:09 because it will start decreasing in June,
02:11 now it is 22%, so it will also have an impact.
02:14 Similarly, if we talk about the deficit,
02:17 that will also be about 8.5 trillion rupees.
02:19 Last year it was 6.4 trillion rupees,
02:21 this year it will be 7.5 trillion rupees,
02:23 which is about 13,000 billion rupees.
02:25 And then 8.5 trillion rupees will be going into the deficit.
02:29 Then, the 13,000 billion rupees,
02:32 for example, we have a revenue target of 12,900,
02:35 to match that, we will have to invest new taxes of 1500 billion rupees.
02:39 1500 billion rupees.
02:40 Yes, this is what is being said,
02:42 that is 18%, we will have to make it straightaway 19%.
02:45 We will talk about all these things.
02:47 Yesterday, there was a big meeting in Lahore,
02:49 our Tahiyat Qaid,
02:51 I will have Tahiyat Qaid,
02:53 now your leader,
02:54 he has become the president of Muslim League,
02:56 he has...
02:57 Sir, I don't live in Lahore.
02:59 He lives in Lahore,
03:00 then make him the leader of Lahore people.
03:02 Why do you make my leader?
03:03 Okay, listen to me.
03:04 Make the leader of Lahore people.
03:05 Okay, make the leader of Lahore people.
03:06 He called all his younger brothers,
03:08 his daughter, his son-in-law.
03:10 He called one more relative,
03:12 Aurangzeb, who was with him,
03:14 he is an old friend, he called him too.
03:16 Now, there, it is being said that relief is to be given.
03:19 Yes, a big deal.
03:20 I will come to you.
03:21 The big man says, whatever happens,
03:23 give relief to the people in this budget.
03:27 So, what is the news?
03:28 Relief...
03:29 The younger brother is saying that
03:31 brother, there is no money in the pocket.
03:32 The pressure is obviously put,
03:33 he has said that
03:34 the 200 units that are going to be used,
03:37 all of them will be given some subsidy.
03:39 In the whole country?
03:40 In the whole country.
03:41 But, look, there is no scope for giving subsidy
03:44 in our budget.
03:45 Our economic situation of Pakistan at the moment,
03:48 one is that we are stuck in loans,
03:51 second, we are stuck in IMF sanctions.
03:55 So, in such a situation,
03:56 I don't think that they can give relief,
03:59 but it is a wish, they want to give.
04:01 And if they give, then from where will they give?
04:04 If they give on loan,
04:05 then we will have to pay interest on more loans.
04:08 So, you are saying that on a temporary basis,
04:11 give relief.
04:12 That is, you will say that we will do this much for the year,
04:15 but when you take a loan on a higher interest rate
04:18 of 22% per year,
04:20 then that too has to be paid back.
04:22 Then in the future,
04:23 our generations have to pay back.
04:24 So, find a way,
04:25 do something that will have a win-win situation,
04:29 that you get a subsidy too,
04:31 and you don't have to bear the burden,
04:33 but I don't see such a solution right now.
04:35 Okay, Mr. Choudhary,
04:36 you must remember,
04:37 there was a campaign,
04:38 Bilawal Bhutto Dardari Sahib said that
04:40 they will give 300 units,
04:42 Mariam Sahiba also said that
04:43 they will give electricity for 300 units,
04:46 I remember that Hamza Shahbaz Sahib also said that.
04:49 So, definitely, they will subsidize for free,
04:53 and give it for free to the people.
04:54 Now, it is a matter of distance from subsidy,
04:56 and it is a matter of distance from free,
04:57 they are not even giving subsidy,
04:58 it is difficult.
04:59 Now, 200 units,
05:00 they have to pay interest,
05:02 and you have to pay interest to get a fan,
05:05 and they are going to pay interest.
05:06 So, what do you think,
05:07 in Lahore,
05:08 the big battle that took place yesterday,
05:10 in Raiwind,
05:11 do you think that some decisions will be taken for the people,
05:16 because obviously,
05:17 it is very difficult for Hassan,
05:18 but Mr. Bade Mian is saying that
05:20 I have to mobilize the party,
05:22 I have to go to the people,
05:24 so before going to the people,
05:25 I need a good budget.
05:27 I am saying that they will give,
05:28 but that means,
05:29 in the long run,
05:30 it is not good for Pakistan.
05:32 I am saying that they will give,
05:34 but it will not be good.
05:35 Yes, Mr. Chaudhary.
05:36 No, no,
05:39 first of all,
05:40 70% of the rural population,
05:42 they are your slaves,
05:44 because they have been affected by your policy,
05:47 you cannot deal with that.
05:49 You cannot give relief to the urban population,
05:52 that we are eating roti at a cheaper rate,
05:55 and so on.
05:56 The Punjabis say,
05:59 "Why did you go?"
06:00 or "Follow, follow"
06:02 or "Mara, mari"
06:03 or whatever,
06:04 I am not doing anything with them.
06:05 You just said,
06:07 Mr. Nizami,
06:08 I think,
06:09 he says that
06:11 until your tax is not more than Rs. 1500-2000,
06:18 you cannot leave this vicious circle.
06:23 If I am not mistaken.
06:25 You are absolutely right.
06:26 He is saying that
06:27 we need more money,
06:28 we will have to pay another Rs. 1500-2000 tax.
06:30 You are right.
06:31 Please continue, Mr. Chaudhary.
06:33 So, now we need two or three things.
06:38 One is the rule of law,
06:41 which is being greatly affected by the situation.
06:46 It has to be addressed in every way.
06:49 Law and order,
06:50 which has no heir.
06:52 Number three,
06:54 the poor are all screwed up.
06:56 Like you said,
06:57 9 crore people are below the poverty line.
07:00 In fact, there are more people than that,
07:02 who are not in any count.
07:05 So, we have to reduce that.
07:07 And most of all,
07:09 across the board,
07:10 this message should go,
07:12 that the people of Pakistan,
07:14 who are being screwed up in the cycle of inflation,
07:16 40-50% of it is lost.
07:19 And there is a torment of unemployment.
07:22 And everyone is running out.
07:24 Or trying.
07:25 To address these big challenges,
07:29 I think,
07:30 they have no plan,
07:32 nor do they have a team.
07:35 And I have to say with regret,
07:38 that the people like Ahsan Iqbal,
07:40 who say that we are very capable people,
07:42 what is the use of that capability?
07:45 And from outside,
07:47 they say that investment is coming from here and there.
07:49 Dollars are raining.
07:51 It's not even raining,
07:53 but the heat has taken our burqas out.
07:55 Yes, yes, absolutely.
07:56 So, this negativity is all over the place.
08:01 And if Mr. Shoaib Nizami gives me an answer to this,
08:05 that has economic activity been generated in the country?
08:08 The answer is no.