ISLAMABAD: Leader of the Opposition in the National Assembly and senior Pakistan Tehreek-e-Insaf (PTI) leader, Omar Ayub Khan, on Tuesday launched a scathing critique of the federal budget for fiscal year 2025-26, calling it deceptive and disastrous for the public.
Addressing a press conference in Islamabad alongside other party leaders, Ayub accused the federal government of misleading the nation. “This budget has metaphorically slit the throats of the people,” he said, pointing to a sharp surge in the prices of essential commodities over the past three years.
Ayub further alleged that the government deliberately silenced dissent by blacking out his budget speech in Parliament. “Not only was my speech completely censored, but internet services were suspended during the budget session,” he claimed. “Even our resolution supporting Iran and opposing Israel was not allowed to be broadcast live.”
The PTI leader termed the current situation in Pakistan a “virtual martial law,” stating that there is neither freedom of expression nor democracy in the country. “Everyone can see how our constitutional rights are being trampled.”
Lashing out at the budget’s fiscal assumptions, Ayub predicted the new budget—already burdened with a deficit of Rs 6,500 billion—will collapse even before implementation. He criticized the finance ministry for failing to conduct basic assessments such as deficit sizing, revenue forecasting, and exchange rate projections. “A responsible budget includes debt servicing and trade balance planning—none of which has been done here,” he said.
Highlighting geopolitical risks, Ayub noted the spike in global oil prices due to Iran-Israel tensions. “On the very first day of this escalation, oil prices jumped from $64 to $74–75 per barrel, with more hikes expected,” he warned.
He emphasized that petroleum products make up 25% of Pakistan’s imports. “If regional tensions cause oil prices to rise, the current account deficit will widen, putting further pressure on the rupee. Pakistan must repay between Rs 7,500 to 8,000 billion in loans and interest—this alone will consume the federal budget.”
Referring to global oil dynamics, Ayub pointed out that Iran produces 3.5 to 4 million barrels of crude oil daily out of a global daily output of 82 million barrels. However, daily global consumption stands at 104 million barrels. “Global reserves of crude oil currently stand at 1.2 billion barrels—enough for just 10 to 12 days. In such a scenario, what share will Pakistan get? That remains a big question mark,” he stated.
He also disclosed that when the federal government was approached on this issue, the response was vague. “We were told that oil will be sourced from alternative suppliers. Will they ship it from Afghanistan or Tashkent? There’s no clear plan.”
Lastly, Ayub raised concerns about a major discrepancy in the federal budget figures. “The government reduced projected everyday expenditures from Rs 5,300 billion to Rs 2,400 billion. When I inquired, officials called it a ‘mistake’. What kind of error slashes billions without explanation?”
The PTI leader concluded that the budget is disconnected from economic realities and risks triggering deeper fiscal instability amid ongoing regional and global challenges.
