Pakistan faces the worst economic crisis of its history. The dollar has crossed the Rs200 mark. In order to overcome this crisis, Pakistan approached the IMF for a bailout package. The financial institution asked the government to reverse the subsidies on petroleum products. The government has now raised petroleum prices. This move will cause more inflation.
The main reasons for the current economic crisis are budget and trade deficits, high indirect taxes, and low tax rates for the rich. The country will not come out of this mess until the government takes tough measures. It must widen the tax net and increase the rate of wealth and income taxes. Proper steps should be taken to increase exports and attract foreign investors. There is an immediate need to introduce reforms in the agriculture sector and strengthen the FBR.
Ali Raza Shah Gillani
Islamabad
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...