President Pakistan Peoples Party (PPP) Punjab Qamar Zaman Kaira said Friday the PPP would resist wrapping up of subsidies and privatization of state owned entities. "PPP has already rejected capital policies and it would resist to present government policy of snatching from poor ones and doling out to richer ones," he stressed. He warned that the have-nots would not only resist against exploitation but would fight for their rights one day, as the government was extending subsidies to rich segments, traders and industrialists.
He said the PPP was not against industrialization or investment but it not let it happen at the cost of poor ones. He said the State Bank of Pakistan (SBP) report on the country's economy is an alarm bell for the government, which suggests that unemployment and inflation would rise with reduction in GDP and growth in the large scale manufacturing (LSM).
He said reduction in development funds and withdrawal of subsidies would also hit inflation that would make life of poor, destitute and unemployed miserable. It would also add to economic pressure and inflation, he warned.
According to him, the government would have to go for further loans in order to overcome budget deficit. Those releasing bonds should keep in mind this policy would prove a futile exercise. He said the Pakistan Tehreek-e-Insaf (PTI) was against issuance of bonds earlier but it is doing the same now. It would not serve the purpose, he warned.
He said the government was making mockery of the deserving ones by stating that the government was unable to extend subsidy due to paucity of funds. He added that it is highly unfortunate that 65 percent of the people of Pakistan were deprived of education, health and residential facilities. It is an irony that the poor ones are being burdened with further tax, he said.