Scribd Logo
Upload

Welcome to Scribd!

  • 37 views

    Pakistan Needs To Raise More Revenue

    Uploaded by

    Amir Hamza
    Pakistan has abundant natural resources like agricultural land, minerals, and industrial bases, but its economic development has not progressed as it should. To grow the economy, Pakistan must take steps like raising more tax revenue by taxing the wealthy and large corporations more, reducing corruption and money laundering, resolving the energy crisis through reliable power supply, improving the business environment to attract foreign investment, creating more employment opportunities especially for youth, maintaining a balanced distribution of wealth, improving governance, and raising education standards. Going forward, it is important that Pakistan accelerates ongoing reforms to improve investment climate, diversify investment, expand access to electricity, simplify taxes, and boost economic growth, jobs, services, and reduce poverty.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Pakistan Needs To Raise More Revenue

    Uploaded by

    Amir Hamza
    37 views2 pages
    Pakistan has abundant natural resources like agricultural land, minerals, and industrial bases, but its economic development has not progressed as it should. To grow the economy, Pakistan must take steps like raising more tax revenue by taxing the wealthy and large corporations more, reducing corruption and money laundering, resolving the energy crisis through reliable power supply, improving the business environment to attract foreign investment, creating more employment opportunities especially for youth, maintaining a balanced distribution of wealth, improving governance, and raising education standards. Going forward, it is important that Pakistan accelerates ongoing reforms to improve investment climate, diversify investment, expand access to electricity, simplify taxes, and boost economic growth, jobs, services, and reduce poverty.

    Original Description:

    economy topic

    Original Title

    PAKISTAN Economy

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Pakistan has abundant natural resources like agricultural land, minerals, and industrial bases, but its economic development has not progressed as it should. To grow the economy, Pakistan must take steps like raising more tax revenue by taxing the wealthy and large corporations more, reducing corruption and money laundering, resolving the energy crisis through reliable power supply, improving the business environment to attract foreign investment, creating more employment opportunities especially for youth, maintaining a balanced distribution of wealth, improving governance, and raising education standards. Going forward, it is important that Pakistan accelerates ongoing reforms to improve investment climate, diversify investment, expand access to electricity, simplify taxes, and boost economic growth, jobs, services, and reduce poverty.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views2 pages

    Pakistan Needs To Raise More Revenue

    Uploaded by

    Amir Hamza
    Pakistan has abundant natural resources like agricultural land, minerals, and industrial bases, but its economic development has not progressed as it should. To grow the economy, Pakistan must take steps like raising more tax revenue by taxing the wealthy and large corporations more, reducing corruption and money laundering, resolving the energy crisis through reliable power supply, improving the business environment to attract foreign investment, creating more employment opportunities especially for youth, maintaining a balanced distribution of wealth, improving governance, and raising education standards. Going forward, it is important that Pakistan accelerates ongoing reforms to improve investment climate, diversify investment, expand access to electricity, simplify taxes, and boost economic growth, jobs, services, and reduce poverty.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    There is no doubt that Pakistan is a resource-rich country and possesses mineral fuels,

    manufactured goods and other resources like:- food and live animals , crude materials,
    chemicals, machinery and miscellaneous articles. In addition, Pakistan is blessed with tons of
    coal reserve, barrels of crude oil & natural gas reserves.

    Despite being blessed with fertile agriculture land, abundance of minerals and sound industrial
    base, our economic development is not progressing as it should.

    In my opinion we must take following steps to Grow up our economy

     Pakistan needs to raise more revenue as the incidences of tax evasion have hampered
    Pakistan’s economic progress. The regressive tax system collects about 90 percent tax
    revenue from common men. Big corporations, landlords, businessmen, politicians do not
    pay their due share of taxes. They earn lot but pay less tax; on the other hand poor earn
    less but are taxed more. Each year billion rupees are evaded through tax havens
    established in foreign counties. Pakistan needs to raise more revenue to have resources
    for critical investments.
     Corruption and money laundering are also major causes of current economic
    situation and the steps must be taken to stop these both. Since 1947, the ongoing
    corruption has steadily planted its roots. In current circumstances, it has become a highly
    political debate. The corruption has proven to be a menace for institutions.
     Energy Crisis should also be resolved as the constant leading power cut-off challenge
    has troubled the economy because with energy lingering crisis the determined economic
    development is a far-off dream
     Improving the business environment as terrorism is also a huge stumbling-block for
    economic generation in Pakistan. This has long been a reason for Pakistan’s negative
    international image which has limited the foreign investment in the country. Improved
    business environment will be necessary to tap into foreign resources. Foreign Direct
    Investment (FDI) has been declining over a number of years and remains extremely low.
     Employment opportunities for Youth should be created. We are blessed in having
    about 63 percent of youth population. Half of them are unemployed. According to Asian
    Development Bank (ADB) 50.7 percent of the population aged 15 years and above is
    employed only and others are struggling.
     Wealth Concentration balance must be maintained In Pakistan wealth is concentered
    among a few rich families. The rest of the population is dependent on them which causes
    imbalance.
     Lack of good governance has always disturbed economy. We lack good governance
    and pro-poor fiscal & political policies & those should be revised as current policies
    cause’s uncertainties which disturbs economy.
     Education Standard must be raised as Education is a key component for economic
    progress. Unfortunately, our current literacy is 60 percent, least in South Asian countries.
    About 25 million children in are out of school. More importantly, on grass root level,
    thousands of schools are lacking very basic facilities such of sanitation, water, electricity,
    boundary walls etc.
    In simple; Going forward, it will be important to accelerate the implementation of
    reforms: The government is implementing a number of reforms to improve the
    Economy.
    These include efforts to revive investment climate and diversify the investment portfolio.
    Significant efforts are underway to improve the access to and quality of electricity, and
    simplifying and making the tax regime more transparent. It will be important to
    accelerate these and other reforms for growth to create jobs, provide better services to the
    public and ultimately reduce extreme poverty and boost shared prosperity in Pakistan.

    You might also like