najam sethi

Najam Sethi Says Farooq Sattar’s Stance Proved Right; Budget Not Bad, If Not Good

Senior analyst Najam Sethi said that Farooq Sattar’s stance over cordon of his house has proved justified as the rangers should not have returned without conducting house search if they had verified information.

Najam Sethi said that Farooq Sattar guaranteed that he had not sheltered any criminal and demanded that the media should accompany the rangers during the house search. Since his position was strong, he tried to get political advantage of the situation, insisting that big political leaders’ houses should not be cordoned off this way.

Sethi said it was out of question that the rangers intimated Farooq Sattar prior to the operation. Even the rangers did not reply to the repeated question of Dr. Farooq Sattar as to who is required as a result of the cordon and house search. Farooq might have known that the rangers had reached the place in search of Sindh MPA Kamran Farooqi.

About the budget, Sethi said it was not a bad budget, even if not a good one. There were certain other bad things which the government did not do, Sethi said and added the agriculture sector should have contented itself with the allocation of amount after three years’ gap.

Every government tries to play up its performance in its economic survey and the budget but any deception in the budget is detected by the IMF because government cannot lie to the IMF which has its own standards of economic survey. The incumbent government had promised growth had been at 4.1 percent but had to confess to the IMF that it was merely 3.3 percent, though it refused to make same confession in parliament.

Sethi said while the government had been complaining of economic loss due to the sit-in, how it could achieve the economic progress of 4.7 percent. That is why, the real progress was found at 3.1 percent when government claims were challenged.

The senior analyst said the government thought for poor farmer after three years which it should have done earlier. He said there was decline of 2 percent in agriculture yield while the boom in manufacturing sector remained 5 percent against the government claim of 7 percent. He said the government has over-stated its performance for economic progress in every sector while it is still depending on indirect taxes and has failed to include hundreds of thousands of persons in tax net. He said unemployment is the top problem in the country while the government has made unproductive expenses as high as 100 billion rupees which might be spent for productive purpose.

Sethi asked government to discontinue the currency note of Rs 5,000 denomination, disregarding any protest from traders against this step.

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