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Tarin unveils aggressive government ‘bottom-up’ approach to shifting ‘real benefits’ to the poor



Children whose families have been displaced by heavy flooding pose for a photo near a camp as they took refuge in Nowshera, northwest Pakistan, July 22, 2011. Reuters / Fayaz Aziz Shaukat Tarin asserts that the “trickle-down” approach never brings real relief to the poor; introduced the government’s ‘bottom-up’ approach to change this. The increase program will allow 4 to 6 million households to take charge of their own well-being. Package to offer credit, without interest; health cards; technical training.

The “trickle-down” approach to helping the poor in macroeconomic policy has never translated into “real relief” for the most oppressed, Finance Minister Shaukat Tarin told the National Assembly today as he ‘he presented the government’s draft budget for 2021. -22.

He was about to present the government’s own model for reallocating resources to uplift the most vulnerable segments of society.

Tarin said that from next fiscal year, the government will instead pursue a “bottom-up approach” for the 4-6 million households most vulnerable to the vagaries of the economy.

The government aims for a growth of 4.8% of the 2021-2022 budget “favorable to the citizens”

The package, which aims to provide substantial amounts of credit, mostly interest-free, to the most vulnerable segments of society (details below), will aim to empower the poor to take charge of their own well-being. .

Under the approach:

Each non-farm household will benefit from interest-free loans of up to Rs 500,000 to start a business; each farming family will receive 150,000 rupees to help harvest a new crop in the form of an interest-free loan. An additional amount of Rs 200,000, also interest free, will be provided to purchase tractors and agricultural machinery; all vulnerable households will benefit from low-interest loans of Rs 2 million under a low-cost housing program so that they can become homeowners; Each household will receive the Insaf Sehat card; and one member from each household will receive free technical training.

Siskin said: For 74+ years the impoverished people of Pakistan have longed for their economic well-being, but the benefits of economic growth have never reached it.

He said the trickle-down approach is a concept that only works when there has been steady economic growth over 20 to 30 years.

“Unlike in the past, we will not leave our disadvantaged sections of society at the mercy of the ‘trickle down effect’,” vowed Tarin.

“[These benefits] have never materialized in our economic history, ”he said, adding:“ The dreams of the poor have not been realized.

He said the prime minister wanted to change people’s plight and correct the course of Pakistan’s history.

‘Everyone will be happy’ with 2021-22 budget, says Prime Minister Imran Khan

The finance minister said that by directly redistributing resources in this way, the government would endow the poor with a “full package” for their upliftment, slogans for which have been raised repeatedly, but which have never saw no action on the ground.

He said this step is a major feature of the vision of a nation modeled on the Riyasat-e-Madina, which the prime minister has targeted.

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