Budget blues | Pakistan Today

Budget blues

Apropos your analytical reports about upcoming budget, increasing deficit between tax recovery and targets, bridging gap with more debts and its negative impact upon inflation and masses. This budget will be reflection of financial policies followed by PML-N government, which has already declared that SROs will not be withdrawn till end of 2017, which basically means their total tenure.

It is an unfortunate fate of 200 million Pakistanis that political elite both from party in power and those in opposition and paid public office holders consider Pakistan an ideal country to rule and govern, but once out of power the perception that their deeds and acts convey is that this country is not worthy for their children to live nor for their assets to be located here. People must decide if this is acceptable and stand up to protect long term national interest of Pakistan, which can only be achieved through economic self-sustainability, good governance and rule of law.

Other than mere rhetoric there will no meaningful attempt by FBR to recover or impose direct taxes from affluent traders, retailers and businessmen of this country, nor will there be any implementation of existing laws, nor any such move to arrest massive flight of capital from Pakistan, which has not only reached unprecedented levels but is defiantly done without any fear or impunity from prosecution. The poor and middle class will be burdened with more indirect taxes and there will be no concrete steps taken to punish those openly and defiantly involved in massive tax evasion, false declarations and theft of utilities.

Our human resources will continue to be neglected because of tax evasion and resultant paucity of funds for investment on education, health and provision of clean drinking water to citizens. The façade of increasing forex reserves by resorting to huge debt procurement will continue but no attempt will be made to arrest this institutionalised flight of capital where in just three months of 2015, over $379 million have been siphoned to Dubai for buying real estate.

MALIK TARIQ

Lahore



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