well i am not from PMLN, but Ishaq Dar Successfully double the tax collection from 1900 billion to 3800 in 5 years without creating any panic among the business community.
The revenue collection increased from Rs 1946 billion in 2013 to Rs 3362 billion in 2017(figures taken from PML_N source) Your numbers and then government numbers don't add up by any imagination.
When the Pakistan Muslim League-Nawaz (PML-N) party swept to power after general elections in 2013, chief among their promises was to turn around an economy in dire straits, revitalizing growth and overcoming a chronic energy shortage that had crippled many industries.
The situation was, by any definition, dire.
Economic growth had
dropped to just
3.5 percent, with foreign reserves dropping fast in the face of a huge import bill, and a balance of payments crisis looming.
As the PML-N took office, central bank
foreign exchange reserves stood at $6.5bn, their lowest level in 10 years. Facing the possibility of default, by September the government had approached the International Monetary Fund (IMF), seeking a three-year $6.68bn programme to help stabilize the economy and introduce macroeconomic reforms.
It would be Pakistan's
12th IMF programme in almost three decades, and came with conditions enforcing discipline on managing fiscal deficits and privatizing state-owned entities,
many of which were not fully met.
Five years on, the PML-N told you, Pakistan's economic situation looks markedly rosier.
A major chunk of Pakistan's economic growth during PML-N, was led by consumption, most of it government spending on development projects was achieved by borrow and spend which is not sustainable in the long-term .
I am sure you are smart enough to understand one can keep buying with credit card to look good, but eventually you have to pay it back with interest.
In mean while PML-N ignored the real problem faced by Pakistan they didn't address constraints to exports' competitiveness, created overvalued exchange rate with borrowed money, created a weak investment environment and a trade policy that at times hurts rather than supports exports, Results were exports drop from $25bn in 2013 to $22bn in 2017(according to central bank data).
Moreover, repeated PML-N government attempts to widen the country's tax base had only limited success, leading to a widening fiscal deficit, as the government continued to pump borrowed money into the economy.
Ishaq dar wouldn't be on the run if he actually achieved anything other then personal finances growth by billions..
Most business community during PML-N and PPP panic they were either shutting down or leaving Pakistan taking billions with them and almost none of the merchants were even registered with FBR or being taxed.. so please check your facts before claiming PML-N were great for Pakistan.
Where as current govt ministers and even PM love to make aggressive statements about business community which created panic and due to which growth rate drastically fallen from 5.8 to 2.4
Real reforms are being introduced Policies being put in place now are sustainable , dollar rate is real and not overvalued by artificial means. Tax collection and number of tax payers continues to show increases. Yes its painful time for all no doubt about it, but without this only other option left was to declare bankruptcy..