Daily Times

Lawmakers in the National Assembly on Saturday continued debate on the federal budget for fiscal year 2023-24, suggesting measures to improve key sectors including communication, water reservoirs, agriculture and energy on modern lines to achieve the required goals of macroeconomic stability and growth trajectory.

Participating in the debate for budget 2023-24, Riaz-ul-Haq of the Pakistan Muslim League-Nawaz (PML-N) said the allocated funds for NHA (National Highway Authority) and water resources including new reservoirs in the next fiscal year were insufficient. He said the construction of major dams would take around 10 to 15 years to complete with the existing ratio of funds allocation, highlighting the water scarcity being faced in the country. The lawmaker also highlighted the ever-increasing energy needs terming it a “crucial issue” for Pakistan, and recalled that during the last tenure of PML-N around 12,000 megawatts of electricity were added to the power system under the leadership of Quaid Muhammad Nawaz Sharif. However, in the past four years, he regretted that there had been no progress in this sector, which resulted in load shedding being witnessed in the country.

He emphasized the need to develop a comprehensive plan to eliminate circular debt in the energy sector. He proposed reforms and accountability for the institutions like the Pakistan International Airlines, Pakistan Steel Mills and Khushhali Bank.

He mentioned that while the textile sector had been given significant incentives, similar incentives should be given to the energy and other sectors. Pakistan People’s Party Parliamentarians lawmaker Shagufta Jumani said the incumbent government presented the budget in difficult economic conditions as it inherited the sinking economy that had been stabilized to some extent and now putting on a consistent path of growth.

She voiced concern over the political temperature and the public frustration, adding had the democracy and politics been properly aligned, this situation would have not emerged. “When genuine constitutional, democratic, and political parties are suppressed, such situations arise.”