IMF to Pakistan 'Do More"

[gulli]

- Bringing underground economy into formal economy.
- Bring big fish into tax net
- Impose agri tax
- Control commercial theft of water, electricity, gas
- Create conducive environment for foreign investorse

just to name a few.

Gold is still there but we don't have expertise to extract and process it. Nevertheless we cannot rely on gold and will have to either create a service oriented economy or manufacturing based economy.

This will require long term planning. I don't know how great a threat this is on ground but if situation is bad, Mr Khan should make n appeal to wealthy people of the country to come forward in this time of crisis. People hate paying tax but if you ask for donation in the name of cause they may end up paying more. This idea is a success in India, PM care being prime example.

 

[VCheng]

Pakistan should NOT go for any IMF/WB loans, period. Pakistan's Government should make it a priority to get pay off and shut down all IMF/WB or Western based loans, permanently. The aim of Pakistan should be to cut-off this "debt equals money" black-hole. The aim should be to make Pakistan debt free, interest free and independent by 2035.

Economic policies of Pakistan should be to move toward creating Gold & Silver Reserves and find new markets for trade such as the SCO member states, as well as Iran, Malaysia, Algeria, Indonesia, Egypt, Russia, Argentina, Ethiopia, Venezuela, Belarus and so on.

With a continual build up of Gold and Silver Reserves, Pakistan's economy would be near immune to any state sanctions. Independence and diversity in trade with non-traditional markets as well as traditional ones, will create the type Pakistan, which would be the envy of others.

Follow the Sunnah of Nabi Muhammad Alaihi Salaat-u-Wassalam and create an interest/debt free economy, which focuses on establishing a non-fiat currency based economic system, concentrating on gold backed currencies.

Admitted that the economy would not be "booming" as the capitalist $wines like to refer to as progress. But what a interest/debt free - Gold/Silver reserve induced economy in the truest sense of the word would do for Pakistan, is give it the FREEDOM and the POWER with which to protect that FREEDOM.

Time for Pakistan to be unhinged from the capitalist debt trap.

MashaAllah, that is a great plan, but why is Pakistan not embarking on something so easy to describe?

 

[Menace2Society]

Just make some money, I don't understand why you complicate this. Get 2 jobs if you have to, make some cash and don't spend it.

What I find irritating is there is a small % of elites who are so arrogant and obnoxious like they are living in Paris. I don't understand this mindset.

 

[Wood]

- Bringing underground economy into formal economy.
- Bring big fish into tax net
- Impose agri tax
- Control commercial theft of water, electricity, gas
- Create conducive environment for foreign investorse

just to name a few.

In India, structural reforms usually mean that economy should be liberated from Gov. control to allow market allocation of resources. Your suggestions simply want an increase the tax net and resolution for administrative issues.

How closed is Pakistan for foreign investment? Is FDI restricted in different sectors (as is the case with socialist India)?

 

[SaadH]

may i have cutting of this or online reference, i remember some qasoori said it in 70s,

Not Qasoori, but PPP's Mustafa Khar...

 

[Vapnope]

This will require long term planning. I don't know how great a threat this is on ground but if situation is bad, Mr Khan should make n appeal to wealthy people of the country to come forward in this time of crisis. People hate paying tax but if you ask for donation in the name of cause they may end up paying more. This idea is a success in India, PM care being prime example.

It has happened many times and people find out later that their hard earned money has been shifted to elites cofers only. It is not going to work anymore. Government will have to work on economy.

In India, structural reforms usually mean that economy should be liberated from Gov. control to allow market allocation of resources. Your suggestions simply want an increase the tax net and resolution for administrative issues.

How closed is Pakistan for foreign investment? Is FDI restricted in different sectors (as is the case with socialist India)?

Of course there are more technical matters when it comes to reforms.

Regarding foreign investment, we have political instability, unskilled or semi skilled labor, religious extremism and now we have strained relations with UK and US along with FATF so you can guess why foreign investment will be low.

 

[American Pakistani]

Very irresponsible statement. IMF advisory only advises on how to generate tax so that installments can be paid timely, it is always up to government to accept, reject or modify to collect the required tax. Unfortunately, the much talked about structural reforms are not happening even as of today for which Pakistan will continue to pay heavy price. Sad state of affairs.

No Pakistani is willing to sacrifice for economic change to happen. Many of our compatriots want govt delivering man o silwa while 30 40 year old "kids" sitting on the streets wearing imported clothes, imported phones recording and harassing local girls.

Most of Pakistan's problems are linked to severe imbalance of imports and exports.

 

[BATMAN]

Does anyone a remember a munafiq who before elections used to say he will commit suicide before he take loans?

Has he committed suicide now?

Every billion he borrowed using his authority must be audited, weather he lives or commit suicide.

 

[SirHatesALot]

In India, structural reforms usually mean that economy should be liberated from Gov. control to allow market allocation of resources. Your suggestions simply want an increase the tax net and resolution for administrative issues.

How closed is Pakistan for foreign investment? Is FDI restricted in different sectors (as is the case with socialist India)?

they need to decrease spending and increase revenues, now with inflation if they tax more or if they cut spending on its rock and very hard place

 

[Wood]

they need to decrease spending and increase revenues, now with inflation if they tax more or if they cut spending on its rock and very hard place

Even I want to do this at home

 

[Dalit]

Talks between Pakistan, IMF for release of USD 1 billion loan tranche remains inconclusive

ISLAMABAD: The fresh rounds of talks between Pakistan and the International Monetary Fund for the release of USD 1 billion loan tranche and a good economic cert

kashmirreader.com

6 billion loan, first tranche of a billion rejected

LOL we already did more. Look at Afghanistan.

 

[Prince Kassad]

LOL we already did more. Look at Afghanistan.

yes you did more, now get ready for sanctions

 

[AZADPAKISTAN2009]

IMF have certain requirements for raising prices , Pakistan will do what is best for it's people first
Excessively high rates for food and resources is not ideal in Pandemic as it will raise social unrest

IMF makes Profit from Loans it hands out , so if they decide to not give out the full amount of loan it will be their loss , we will likely attain loan from another source.

Pakistan's economy generates 250 Billion Dollar to 300 Billion Dollars, with control over budget and purchases necessary surplus will be generated

 

[BATMAN]

they need to decrease spending and increase revenues, now with inflation if they tax more or if they cut spending on its rock and very hard place

True, but unfortunately spending has increased, every thing is already taxed insanely... this is why IMF is being approached.
Problem here is IMF $ is failing to create growth, because most of it is wasted on nonsense like handing out cash /health card /free food / non developmental phony schemes, all for the sake of political gain.
I must say, IMF is fully involved in on going corruption and mall practices, their support to ruling part has been unprecedented.

 

[Crimson Blue]

may i have cutting of this or online reference, i remember some qasoori said it in 70s,

As other people replied already it was written by Ghulam Mustafa Khar in Economist in 1970s. It was also referenced in Tehmina Durrani's book about him, 'My Feudal Lord'. Here is a paragraph from her book.

"The Economist printed Mustafa's four-page article discussing Pakistan's relations with India, wherein he expounded his thesis that military rule prevented progress and that he would re-enter Pakistan on Indian tanks, if necessary. This was a surprise to those who knew Mustafa as the Lion of the anti-Indian Punjab, and created a great deal of controversy."