It could be read from the tea leaves for quite some time now. For all their furore and all their fury, the PML(N)-led government still followed last year’s mantra of appeasing the IMF as it presented its first budget after being elected to power. While those who understand that “beggars cannot be choosers” would try to hail this as a heroic feat in the face of mounting debt, the reality cannot be swept under the rug: Budget 2024 is a mere shadow of what could have been a revolutionary economic plan for the country. Despite promises of reforms and progress, the government seems to have fallen short in delivering a comprehensive and sustainable plan for economic growth. The budget, instead of being a beacon of hope, comes off as a band-aid solution to deep-rooted problems. It goes without saying that the government’s top priority must have been to keep a crucial creditor on the heels of a request for yet another loan. But had the government been transparent about the ground realities during the election campaign and trusted its voting bank to understand the dire straits, it could have avoided the uproar from the opposition bench. Unfazed by the opposition, Federal Finance Minister Muhammad Aurangzeb chose to appreciate the state machinery for progress on the economic front. However, what about the resolve to focus on a home-grown, export-led model, touted to re-package Pakistan as a roaring lion on the world map? Even for the sake of the roadmap, if not the consequences for the bigger picture, simply restricting itself to the taxation targets would not magically make all sectors turn their attention towards their civic duty. The government may force the salaried class to bleed a little more at the altar, but reduced inflation means wiping off the extra boost of revenue to the taxation net. More worryingly, as suggested by Pakistan’s Economic Survey 2023-24, the country witnessed the highest-ever single-year increase in tax exemptions in a year when the top brass repeatedly emphasised its resolve to end the sacred cow culture. What on God’s green earth would change in the setup that forces the authorities to implement his ambitious plan? *