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Monday September 26, 2022

Into the black

August 16, 2022

Due to the uncontrollable internal and external deficits, the value of Pakistan’s currency is under severe pressure. However, due to the IMF’s strict conditions and our limited resources to repay the external debt, the government is unable to bear the financial burden of providing relief to the people and accelerating development.

The government is facing a budget deficit despite ending public subsidies for the IMF programme and increasing taxes. Due to these high rates of tax and inflation consumers are shifting towards cheaper alternatives which are mostly fake and illegal products. The tax authorities must take action against this illegal trade.

Usama Ghulam Rasool

Karachi

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