PakStox Outlook

Despite positive market reaction on expectations of more money to flow towards it the proposals of federal budget 2024-25 were a terrible poor show. Not an iota of thought went into making this budget. It shows complete submission to dictates and an absolute freeze in policymaking. There's no effort made, nor even a mention of structural change. There isn't even a word on fostering an environment for growth, let alone addressing the biggest problem of circular debt. The target of revenue generation from additional taxes, a whopping 38% higher than the previous year's unmet target, is sheer folly. Increasing taxes will not increase revenue. Only a functioning and growing economy can generate more revenue. The whole focus of the budget proposals is to increase tax rates wherever possible, without any effort to spur economic activity that is already reeling from high interest rates, a high exchange rate, and a politically unstable environment. The biggest joke is the introduct...