Pakistan Financial Crisis: ‘Only Pakistan can stop its ruin, even IMF loan will not be able to finish the pauper’ pak media
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According to experts, the answer is no. International economist Ahmed Mukhtar has written an article related to this in Pakistani news outlet The Express Tribune. In this he said that Pakistan has not made any long term plan to end the economic crisis. He said that the Finance Minister needs to look at other options as well. He said that first the Finance Minister should tell what was the benefit of super tax? There is a need to eliminate non-developmental public expenditure.
what method
He further said that it is very easy to hoodwink the general public, attention should be taken to the issues which are eating up the national resources. Mukhtar further said that the minister may also create a ‘Pakistan Stabilization Fund’ where large companies, especially those in the banking and telecommunication sectors, can invest for the next 10 years for a reasonable return on investment and tax exemption. He said that if 10,000 companies of Pakistan invest in it, then the mini budget will be more beneficial.
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need to be serious
He further said that large housing societies can contribute to Pakistan’s Stabilization Fund. They argue that the big developers have extra cash, which is much more than the mini budget. Can’t we borrow this cash to meet the fiscal gap? There are many solutions, but there is a need to show seriousness on this. Pakistan needs a long term plan to deal with this economic crisis. The country cannot rely only on mini budget and installment of IMM. Long term plan is needed to save Pakistan.
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