Saturday August 20, 2022

Wrong policies

June 27, 2022

It seems that our economic decisions are in the hands of international financial institutions. Political instability, terrorism and poor financial strategies had already discouraged investors from investing in our country, and now this unwise policy of a 10 per cent super tax on big industries will exacerbate our economic woes and discourage investors from investing in Pakistan. Although the government intends to use the additional revenue generated through the super tax for public services, there is no denying that big investors will look at it from a capitalist point of view and increase the prices of their products to cancel the financial impact of the super tax on their profits. As a result, end consumers will bear the brunt of the government’s policies and face inflation.

The current situation demands that policymakers strengthen the country’s manufacturing sector and take steps to attract investors. Our focus should be on creating a safe environment for investment and improving the facilities of the industrial sector. Only then can investors be expected to return to our country. Otherwise, these part-time and politically motivated policies will further hurt our economy.

Muhammad Shafique