Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Friday that people reeling under inflation for years are afraid of the coming budget. He added that the business community is experiencing sleepless nights because of the expected measures being adopted under pressure from the IMF.

Talking to the business community, Shahid Rasheed Butt said that the public is not expected to get any relief in the budget, and they are bracing for a huge increase in inflation. He said that no budget in Pakistan has ever brought good news to the people. Still, the upcoming budget will be very painful.

He added that the budget would make electricity, gas, medicines, and other life necessities more expensive, making people worse off.

The business leader said that Pakistani people are still buying electricity and gas at very high costs compared to neighbouring countries, and the burden on them will be further increased after the budget.

The masses will pay the price of politicians’ inefficiency and mismanagement, while the elite will not be burdened; rather, efforts will be made to give them all possible relief.

Mr. Butt said that IMF has been asking Pakistan to fix the direction of the economy, end the subsidy culture, make electricity and gas more expensive and increase taxes.

The IMF’s demands that hurt the masses will be strictly implemented, but those demands that burden the elites will not be implemented in the budget.

The IMF also demands that the government cut its expenditures, end undue incentives, and sell failed state-owned companies, but nothing will be done to save the elite from the burden.

He noted that the government will continue to claim reforms in electricity and other important sectors as before. Still, the result will be the same as the election promises of the two ruling political parties, who promised the people 200 and 300 units of free electricity.