Budget 2026 | IMF New Conditions | Haroon Sharif's Big Analysis | 92 News HD

Added: 2026-06-03

[00:00:00]Look, first of all we need to clear some basics.

[00:00:04]That Pakistan, whenever you are in the IMF bailout program, it means that you have less physical space.

[00:00:16]So now our budget, both traditionally and nowadays especially with the emphasis on collecting all this money, will go into three heads. Yes, approximately 46% of our money will go towards repaying our loans.

[00:00:30]ok sir.

[00:00:32]So half your budget went there. There is a security situation on our western border. I am sure that you will have to make a big increase in your defense.

[00:00:43]We are third, our expenses of running the government and especially the pension expenses are completely beyond our control.

[00:00:53]In fact, nowadays the pension bill is more than the salary.

[00:00:56]Hmm.

[00:00:57]So now we have made this budget, whatever revenue inflow there is, it gets booked on the first day. We create a public sector development program which we basically have to sacrifice whenever we face any shock. Ok?

[00:01:14]So the budget is very simple here.

[00:01:17]Budget is not an important thing in the world. The budget is basically an instrument that finances a policy strategy. Okay, right?

[00:01:27]If there is consistency in our policies then people do not need to look at the budget.

[00:01:31]They know where the money needs to go.

[00:01:33]Because there is no consistency in the policies and you know many constituents' vested interests are fighting among themselves. So the budget again becomes more important and at the end of the day, we further repress the compliant taxpayers or the lower middle class or the salaried people through the budget. This time the situation has become quite serious. I think the government will have to open up the sectors it has been protecting for many years because money will not be able to come into the kitty otherwise. Well, Haroon sir, it has been five years. This is the fifth budget of this government. Every year we hear one thing that the next budget will be for the people.

[00:02:20]After how many years will Pakistan's budget be public?

[00:02:26]Yes, this requires a little deep thinking.

[00:02:30]Awami means that our policy priority should be the people. The priority of our institutions should be service delivery to the public.

[00:02:42]Yes, unfortunately here the preference of the institutions and the preference of the policies is Khawas. There is no public.

[00:02:49]So, if all the policies are not focused on the people and we create some, you know, BISP and think that we are doing very people-friendly work, then how can the budget be focused on the people? This increased a trust deficit and communication gap.

[00:03:08]Sorry to cut you off sir. You mentioned BISP because it always becomes a political issue.

[00:03:12]But why has the IMF talked about increasing BISP, sir? What logic do you understand?

[00:03:19]Yes, I am absolutely sure that I have been dealing with various companies on behalf of international organizations for the last 1820 years.

[00:03:24]Look, they also need to look good on the global level that we are helping the poor.

[00:03:33]So they don't touch a cash transfer program over BISP.

[00:03:39]But the real challenge is the consumption power of the lower middle class and middle class which is currently being lost due to inflation. Yes, we have an organization called BASP for the poor. The system is built. Targets have been targeted. Partnerships have been formed.

[00:03:54]But we do not have any agency for the middle class to provide targeted subsidies.

[00:03:59]I am worried about the middle class that if you do not support them for six to eight months then the number of poor people may increase significantly.

[00:04:08]Saqib sahib, well Haroon sahib, you talked about some sectors regarding which the government made some policies, if we look at the last two-three years, the real estate sector is also included in them and when an attempt was made to bring those people in the tax net and to regularize them, then this sector collapsed and because of this collapse, investment also went out to our Gulf countries, so what do you think that this time the government is thinking of taking some steps to revive the real estate sector.

[00:04:43]Yes, there are two things. Once confidence lapses in a sector, it takes time to revive.

[00:04:50]See, the trust of the government is built only when people have faith that the policy changes they are making will hold. Like we sometimes take the policy of solar panels up, sometimes down, then maybe it will take it up again.

[00:05:03]We need to understand real estate very clearly that if we are talking about construction in real estate then we are talking about construction. That is a good sector from which the wheel of the rest of the border also moves. But if plots are being bought and sold then no tax is being collected from them.

[00:05:19]Only the broker is getting rich.

[00:05:20]So we need to see that this huge amount of money is being traded in the service industry.

[00:05:26]What benefit has the country got from it? Has it created employment?

[00:05:31]Have they paid more taxes? Has some export started from it or has any investment come in which is stuck, then we should study it carefully and should not worry about it unnecessarily like the stock market.