Like many others, I strongly believe that my country is rich, but we all- – each one according to his/her power and authority – steal its wealth. Based on a set of new figures, it finds that our country is a net creditor to many countries and global fiscal bodies to the tune of billions of dollars. There’s money going in: in the form of loans, remittances, and aid. It is noticed that several multinational companies operating across the country steal much of this-legally – by pretending they are really generating their wealth in tax havens. These so-called illicit financial flows amount to a reasonable percentage of the country’s entire gross domestic product (GDP) or many times of what Pakistan receives in aid.
Pakistan’s billions of rupees are lost or stolen in one way or the other, but who cares? My country will keep on losing its government revenue to debt repayments, paying loans and citizens will keep on suffering because of direct and indirect taxes, hyperinflation. It is time to change the mentality of those in authority positions and help those who are unable to help themselves. If our present rulers are really sincere about building Naya Pakistan with genuine and strong democracy and vibrant economy, sustainable and durable infrastructure, they would take the steps that are required.
Hashim Abro
Islamabad
Rising inflation not only affects the purchasing power of consumers but also undermines overall economic stability. It...
The climate change situation in Pakistan is a huge problem for the entire nation. Even though it is among the...
Karachi residents living along or near University Road, are facing many difficulties due to the construction of the...
This letter refers to the news report ‘Events like Ambani's wedding should also be held in Pakistan: Sindh...
The strength of a nation is crucial for its prosperity and stability. A strong nation is not only economically stable...
The month of February saw yet another controversial general election in Pakistan. A great number of allegations of...