Farooq Sattar Unveils MQM’s Federal Shadow Budget, Calls for Tax Reforms and Economic Relief
KARACHI: Senior Muttahida Qaumi Movement (MQM) leader Farooq Sattar has presented the party’s federal shadow budget, outlining a series of proposals aimed at promoting economic stability, reducing the fiscal deficit, and providing relief to ordinary citizens.
The shadow budget was unveiled during a press conference in Karachi organized by the MQM Business Forum. The event was attended by the President of the Karachi Chamber of Commerce and Industry (KCCI) and representatives of various business organizations.
Speaking on the occasion, Sattar said the MQM was not advocating additional taxes on the general public but was instead calling for greater tax collection from large-scale industrialists, wealthy investors, and influential landowners.
He urged the federal government to immediately abolish the petroleum levy and proposed replacing the Benazir Income Support Programme (BISP) with a “Benazir Income Generation Programme” aimed at creating employment and sustainable sources of income for low-income families.
Sattar emphasized that Pakistan’s economic sovereignty was a matter of national survival and argued that the existing taxation structure disproportionately burdens urban areas while granting exemptions to certain regions.
Highlighting concerns over tax equity, he noted that teachers earning between Rs60,000 and Rs70,000 per month are required to pay income tax, whereas large landowners often remain outside the tax net.
The MQM leader also called for greater representation of educated youth, workers, and the middle class in legislative institutions, arguing that Parliament should reflect the interests of ordinary citizens rather than those of powerful economic groups.
Discussing economic priorities, Sattar stressed the need for investment and reforms in water resources, energy, electricity, and gas sectors. He claimed that while the federal government’s projected fiscal deficit stood at around 4 percent, MQM’s proposals could reduce it to approximately 2.2 percent.
He further suggested that the State Bank of Pakistan should continue lowering the policy rate to stimulate economic activity and support business growth.
Sattar concluded by saying that MQM’s shadow budget had been designed as a people-friendly economic framework aimed at addressing the needs of Pakistan’s approximately 250 million citizens while promoting sustainable growth and fiscal discipline.
