Call to build human economy

LAHORE

Based on fair taxation system, there is a need to build human economy for benefit of everyone, not just the privileged few, said speakers at a seminar here on Monday on equality and human economy at Alhamra cultural complex.

Fiza Qureshi gave a presentation on human economy while Jamshed Fareed highlighted efforts to end inequalities. Prominent singer Jawad Ahmed discussed poverty situation in Pakistan.

Fiza Qureshi said that world's biggest issue was economic inequality. Quoting reports of Oxfam and giving references of World Bank and World Economic Forum, she said that "one out of 10 persons in the world still have to sleep hungry". She said that eight billionaires own the same wealth as the poorest 3.6 billion people have. She said that the economic managers of various governments needed to work for the poor, ignored and marginalised segments of society.

The governments need to cooperate for economic growth. She suggested that technology should be used to increase employment opportunities and not for curtailing jobs. By any measures we are living in the age of super-rich, a second gilded age in which a glittering surface masks social problems and corruption. Oxfam's analysis of the super rich includes all those individuals with a net worth at least one billion dollars.

Jamshed Fareed said that indirect taxes were unjust, unfair as the poor who had no taxable income were taxed at the same rate as the rich. He said the prevailing regressive taxation needs transformation into progressive tax system. He said "current economy of the one percent in the world is built on set of false assumptions which lie behind many of the policies, investments and activities of the governments".

Jawad Ahmed stressed the need of making well-planned efforts to remove the disparities causing inequality. He urged youths to focus on research work in various areas. He said the fabric of society contains more than 43 million living under poverty line and another 45 million living at threshold level. Poor social indicators include 25 million children out of school; $4 spending on health per person against UN recommended $45 million people are undernourished; more than half of Pakistani population don't have access to toilets; about 11% don't have access to improved drinking water sources.