Pakistan is facing a current account deficit of $18 billion. Taking the IMF bailout package to deal with the issue is an easier option. However, it is possible for the government to avoid the package and manage the deficit on its own. The government should have a look at the following suggestions. To reduce in import bill by $7 to $8 billion, the government should impose a complete ban on import of luxury, nonessential goods. To increase the country’s exports by at least $3 to $4 billion, the government should offer tax concessions and incentives to local industries.
If the government wants overseas Pakistanis to use banking channels to send money, it should reduce the amount of tax levied on such transactions. The government should have proper checks and balances to put an end to money laundering. Through these steps, the government will be able to strengthen the economy while not bowing down to the pressure exerted by foreign lenders.
Arshad Majeed Khawaja ( Karachi )
Unlike many countries in the West, Africa is not saddled with a large debt burden and its tremendous potential for...
The River Gardens area of Islamabad has been dealing with a large population of stray dogs, endangering innocent...
Adiala Road is one of the most populous areas of Rawalpindi and its residents have been facing a persistent water...
In the wake of the devastating floods of 2022, the once bustling road from Bhand to Sohbatpur in the Jaffarabad...
The recent visit of the Iranian president to Pakistan has sparked both anticipation and speculation regarding its...
Deep fakes are manipulated videos or images created using artificial intelligence, and their prevalence has increased...