You cant spend money you dont have. A country simply doesnt go bankrupt in 8 months. It doesnt work that way. Takes years and years of bad policies.
Ik came to power in 2018 yet didnt implement any major economic reforms. Was any state own industey privitized? Why were subsidies expanded rather than being cut until we were economically stable? Why were loans take promises made to imf then next moment cancelled? Why didnt IK govt go to the imf right away when reserves started declining rapidly starting last april? Bangladesh has reserves of 30 billion yet went to the imf proactively ahead of time.
All 4 years of IK was 1 disaster to another with 0 stability. Sure exports increases slightly but that was mainly due to the increase in PPE cuz of covid + lower exchange rate.
IKs whole economic policy was to simply beg for loans, make promises whereever he could, and then provide subsidies he promised to cut. Sure must have been with good intentions, but that doesnt make it the right policy. Any competent leader who could have tough decisions and today we would be in a completely different direction.
From 2018-today paks gdp has not changed whereby countries such as israel/bangladesh who had similar gdps are over 500+ billion gdps today while we are still stuck at 350 bn.
Getting exports and remittances to grow fast, getting GDP to 6% and decent reserves in 3 yrs with corona pandemic is a achievement seldom countries have done
Country can go bankrupt in a week if you give them ishaq dar 8 months is a lot. Miftah Ismail kinda showed that
Give me bengaldesh if they announce takka to be 50 instead it's current price their reserves will drop within a few months and they will bankrupt too.
If they do nothing and just announce they are bringing back ishaq dar it will bankrupt as everyone knows ishaq dar track record
Lack of reforms in taxation were evident and everyone knows why? Whoever he bought was forced to leave by army like shabbar zaidi
Now if you don't know this much then the country deserves what it gets..
Good for me. I want it to be like this since the poor the country is the better it is
Govt is applying taxes on same people who are paying taxes. They are not interested to increase tax bracket and add new millions of potential taxpayers. On top industrial, agriculture and real estate hardly pay any taxes, which is multibillions rupee potential collection.
PDM like PTI hands are tied here.
They can't tax the elite or they will be asked to leave just like IK was.
Shabbat zaidi recent talk is an eye opener
Honestly i wouldn't want tax reforms either..it's against my interest
Pakistan got bankrupted because we were the first country to build a 1b$ motorway to connect to small cities in the country rather then using the same amount to build bhasha dasu tarbela extensions or munda dam.
We only build dams when WB comes and gives us free money
The only exception is munda and bhasha dam that wapda recently built using its own credit financing