By Ahsan Mughal
KARACHI: Muttahida Qaumi Movement Pakistan (MQM-P) leader Farooq Sattar, alongside party convener Khalid Maqbool Siddiqui, presented a shadow budget in a press conference at Governor House, expressing hope that the federal finance minister would give serious consideration to their recommendations.
Sattar said the people of Pakistan have made enormous sacrifices for the country, and now it is time for the elite to contribute. “We need to transition from a tax-burdened democracy to an economic democracy,” he said, criticizing the petroleum levy as a “form of extortion” and an undue burden on the public. He argued that the economy cannot be stabilized by taxing the poor, stressing the need to reduce indirect taxes and increase direct taxation, particularly in sectors that have long remained outside the tax net.
Farooq Sattar demanded that petroleum levies be reduced and highlighted the injustice of loading essential costs onto the common citizen. Among the proposals in MQM-P’s shadow budget were raising the minimum monthly wage to Rs40,000 and exempting annual incomes up to Rs1.5 million from taxation. The party also called for a halt to excessive payments to Independent Power Producers (IPPs) and recommended a substantial raise in government employees’ salaries.
Sattar further proposed food subsidies for residents of urban Sindh, acknowledging the economic disparity within the province. On defense spending, he suggested an allocation of Rs2,800 billion. Addressing the issue of K-Electric’s privatization, Sattar said all stakeholders had been taken into confidence at the time and asserted that MQM’s policy had paved the way for future success. “If our vision is implemented, we will ensure that Karachi’s citizens are treated as first-class citizens,” he said.
