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ANOTHER budget cycle is behind us. The government has had no difficulty in securing parliamentary approval for the new budget. Sadly, few parliamentarians are known to scrutinise the document; even fewer have something to say about the merits and demerits of its contents.
The IMF is happy because the document is within the limits of the boundaries it has set under its stabilisation programme.
As stated by Finance Minister Muhammad Aurangzeb, the budget will hopefully deliver growth, no matter how modest, without destabilising the Fund programme or the economy. If regional uncertainty ends and energy supplies and prices become steady, growth may even slightly exceed expectations, which would give the government something to flaunt ahead of the next elections. Whether it would impress the electorate is another matter.
Though not a bad document per se, the budget for FY27 is a familiar one, and familiarity in our economic history is rarely cause for comfort.
