Intiaz a Muppet
The Muppet Imtiaz Alam, he said the deficit is 8% and tax collection is 9%. Then he linked the two implying that the 8% deficit cannot be wiped out from 9% tax collection.
This is false; the deficit is based on 9% tax collection. The deficit is 8% of the budgetary requirements and is the difference between what Incomes needed in the budget and what actually collected through taxes.
It can be summaries with a simple example, let us say the budget is Rs.1000bn then the tax collection should be Rs. 920bn leaving an 8% deficit of Rs80bn.
Knowing the amount of corruption in Pakistan, in tax collection and after tax collection in the distribution of funds and the way expenditures are spent and recorded, this budgetary deficit can be wiped off completely, but I have no doubt would result in budget surplus, provided expenditures are controlled and not increased with increased income or after reduction in corruption.
Control the budget and its deficit, no need for loans.
Even foreign exchange deficit can be easily overcome, by reducing the import of non essential items and try to increase export by devising a national policy of targeted growth in Export. Increasing the base and items of export. If there is smaller foreign exchange deficit it could easily be covered by the remittance of overseas Pakistanis, which are around $9bn. We do not need to beg IMF and World Bank, in that case, the remittances provides ample cushion, if corruption is eliminated.
For example Pakistan export meat and vegetables. By establishing industries for meat and dairy products refinement, processing and packaging, the net value of the exports can be increase by many folds. Rather then exporting the raw material, convert it in to finished product within your country and then export it.
It only needs planning and establishment of targeted industry it can be done in a very short period of time. I am sure, if right conditions are given, Pakistani industrialists can invest and turn the table very quickly.
We can concentrate on handful of industries to start with and change the land escape completely within few years. Just honest and dedicated people for the cause of Pakistan are needed.
These crooks and thieves would never do this, they are in Politics for their own benefits. They do not want Pakistan to progress and Pakistanis to get eduction. When Pakistan has risen and people are educated, they would never come to power.
Imtiaz Alam is a known agent of these thieves. People like him should be kicked to the curb.
Wake up Pakistan.