Our economic challenges

This refers to the news report ‘Pakistan needs $8-10 bn to avoid IMF loan’ (July 28). To meet the twin challenges of budget deficit and external account default, there are some steps that the PTI can take. First, the party should put a ban on the import of luxurious, non essential goods. Second, it must give large financial packages to exporters to augment exports. Third, it should restore 2016-17 tax rates to increase the revenue. Fourth, it must introduce tax on agriculture income. Fifth, it should reduce the salaries of parliamentarians by 50 percent. The nation has been living beyond its means for quite a long time. The ill-thought-out policies of previous governments have also had drastic effects on the country’s economy. Drastic measures are required if Pakistan wants to avoid the IMF bailout package. If the PTI government does not take bold steps, it will find it difficult to deal with the debt crisis.

Huma Arif

Karachi