A balanced budget for election year
A balanced budget for election year
Editorial
Editorial

The Federal Finance Minister presented a deficit Rs 47.9 trillion budget for the next fiscal year which is generally considered a balanced budget or a better budget since the PML-N Government came to power some four years ago.

The Federal Finance Minister presented a deficit Rs 47.9 trillion budget for the next fiscal year which is generally considered a balanced budget or a better budget since the PML-N Government came to power some four years ago. The Federal Budget was widely welcomed by economists and professionals amid an uneasy session of the National Assembly where the Opposition parties staged a walk-out not because of the budget, but for police using force in dispersing a ‘Kissan Rally’ sponsored by the Pakistan People’s Party seeking greater facilities for agriculture, specifically for the peasants and small growers. For the first time, the PML-N Government had given greater attention to Balochistan and its pressing problems by increasing the size of development expenditure to a great extent, though it is much below the expectations of the common people, including the independent economists. However, the main emphasis was on development in Central Punjab where most of the mega projects are located. Most of the projects in regards to irrigation or water resource development, railways, electricity, power generation and power transmission, building highways or developing the basic infrastructure are located in the main economic artery of the National Economy in Punjab and Sindh. The periphery—Balochistan and KPK—got less attention as usual where symbolic economic projects were proposed and will be financed in the next fiscal year. For the first time, the budget documents conceded that the problems of off-grid would be solved by establishing solar power plants in remote area. For all practical purposes, Balochistan is virtually off the grid as fewer human settlements and cities of Balochistan are getting electricity from the National Grid System and with a faulty and outdated transmission line. The poor consumers are forced to bear the cost of line losses in terms of additional load shedding.

Comparing the past four years of the PML rule, Gwadar will get better attention in next fiscal year in terms of allocation of more resources and funds for its development though they are much below the expectations. Gwadar will have some share in Rs 120 billion allocated for the CPEC projects. Funds are allocated for building yet another desalination plant to beef up water supply to the residents of Gwadar and its surrounding human settlements. The Chinese company is linking the Gwadar Port with the Mekran Coastal Highway by building the Eastbay bypass diverting the traffic from Gwadar city. The Chinese are also constructing a big and modern international airport at Gwadar. However, there is a need to complete the Gwadar Port project earlier so that all the 70 berths are built and the port becomes operational in shortest possible time.

After long time, the Government had taken up construction of main Mekran Highway linking Karachi with Mand or the road network of Iranian Balochistan facilitating tens of millions of people in the region. It is the real economic artery in western parts of Pakistan boosting trade and production in a big way. A sizeable amount of money had been allocated for the Karachi-Bela-Awaran-Turbat section of the road. The Government had also announced to upgrade the Karachi-Peshawar Railway line and purchasing 75 new Railway Engines and bogeys to improve the rail service on the main line linking KPK, Punjab and Sindh with a better railway system. However, there is no plan to improve the rail service in Balochistan. The issue of Gwadar Railways, mainly linking it with the Central Asian countries, including Afghanistan, had been kept in the backburner.  It indicates the level of interests of the rulers to the development of Gwadar port and their plan to make it functional not in immediate future. There is need to review the thinking on Gwadar Port development ensuring its early completion. It was decided in principle that five new berths will be constructed in Gwadar. After lapse of one full year, the plan is not implemented and the Chinese too were found relaxed and not taking it up with the Government of Pakistan for its early completion.