Govt shouldn’t compromise CPEC development: PEW

The Pakistan Economy Watch (PEW) on Sunday said the government should provide all the required resources for timely completion of the China-Pakistan Economic Corridor (CPEC).
Delaying the project to resource constraints is not acceptable and the masses will never allow it, it said.
PEW President Dr Murtaza Mughal said that one-third of the developmental budget has already been slashed to keep deficit under control but the government still lacks money needed for critical mega projects with loan appearing as the only option.
In the last three years, the government has avoided meaningful reforms in the Federal Board of Revenue (FBR) and has preferred to burden existing taxpayers, which has left them with empty pocket, he added.
Mughal said that the Public Sector Development Programme (PSDP) has been increased by only 14 per cent which is a joke in presence of mega projects and economic corridor.
He said that the planning commission asked the government for Rs 900 billion to complete the CPEC projects, including 29 industrial zones, in time but they can only get Rs 655 billion which is frustrating.
At a time when some foreign powers have come out openly to damage the project, the reduced allocation will not only damage the project but will also hit the image of Pakistan, he observed.
Pakistan will remain a beggar unless it brings the elite class into the tax net and force them to discharge national obligations, he said.

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