MQM-P leader Mustafa Kamal has called for imposition of a state of economic emergency in Pakistan and has urged public officer holders to surrender 25% of their property to the state.
During the budget debate in the National Assembly, Kamal called on political leaders to donate a portion of their personal properties for the benefit of Pakistan.
He specifically asked former Pakistani Prime Minister Nawaz Sharif to donate his Raiwind palace, PTI founder Imran Khan to give up his Bani Gala residence, and former Pakistani President Asif Zardari to give up at least one Bilawal House.
He claimed that this would not make anyone poor, emphasizing that it is a necessary sacrifice.
He pointed out that the power sector is charging exorbitant 71% capacity charges.
Kamal further suggested that all stakeholders should come together to first pay off Pakistan’s largest debt burden of Rs78 trillion.
He suggested that the government should aim to collect Rs4 trillion in non-tax revenue.
Kamal stated that the government should present the facts rather than just statistics.
He pointed out that Pakistan’s total debt stands at Rs78.942 trillion, highlighting the lenders of this money to be IMF and others.
Kamal further elaborated that this year nearly Rs10 trillion is in debt and interest payments need to be made, which constitutes 51% of this amount.
He stated that Rs7.303 trillion will be paid to local banks.
Leader of the Opposition Omer Ayub emphasized that the China-Pakistan Economic Corridor (CPEC) is extremely important for Pakistan.
Ayub noted that during the PTI government’s tenure, Rs425.4 billion worth of recoveries were made.
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