socio-economic projects every time the successive governments have been feeling the resource crunch. The ambitiousness reflected in annual development plans is only matched by the inability of their fuller implementation.
The provincial governments are also responsible for the much talked about neglect of social sectors. It defies comprehension as to why development funds are allowed to be lapsed. Equally strange is the provinces showing budget surpluses to cover part of the overall fiscal deficit. This appears quite quirk logic unless financial wizards both in the economic ministries as also outside of it educate the masses on such intricate econometrics.
For several decades, the much-touted slogans have been that let us live within our means. But this exactly what has not happened nor is likely to happen any time soon. On the contrary, the burden of debt has been escalating and so the burden of its annual servicing of repayments. Economic problems including that of resource generation have been well identified and any number of solutions is also available. Let the forthcoming budget be known as one that is high on reforms and relief.
To build the new budget on a fairly satisfactory rate of economic growth, control over fiscal deficit and low inflation in the outgoing year coupled with huge decline in international oil prices appears less challenging than what the government had inherited as a fragile economic situation when it came to power. Now the economic recovery is being acknowledged by international financial institutions.
This must have made the task of the budget-makers easier and hopefully they would ensure that the gains made by the economy are also passed on to the common man.
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