Reforms oriented budget imperative for long term economic growth: Mashhadi

ISLAMABAD: MQM parliamentarian in Senate Col. (R) Tahir Hussain Mashhadi on Friday said a reforms oriented budget is need of the hour to strengthen economic sector and ensure long term financial growth in the country.

Initiating budget debate in the House he said the government has failed to meet targets set during current fiscal year and it is direly need that relief should be provided to under privileged and deprived segments of the society.

He also noted that reduction in subsidy on various commodities would multiply worries of the masses, adding, the target of four percent growth rate set for the next fiscal budget is not achievable.

He lauded earmarking Rs66 billion for water and power sector and commented that the money reserved for People's Works Program is an encouraging step that will help increase pace of development work.

He said diverting the responsibility of budget deficit to floods and war on terror is unfair and reforms should be introduced for economic stability in the country.

Copyright APP (Associated Press of Pakistan), 2011