Within four months of the budget being passed, our financial wizards have conveniently launched another mini-budget
LAHORE: Within four months of the budget being passed, our financial wizards have conveniently chosen to announce yet another mini-budget, imposing regulatory duties and indirect taxes worth Rs40 billion. This reflects lack of competence, professionalism and capacity of our economic managers.
The mini-budget is a willful contempt of parliament. If the FBR is not willing to collect taxes and Customs is hand-in-glove with those involved in rampant smuggling, then the buck stops either at the finance minister’s table or the prime minister’s office. The Pakistani nation witnessed the manner in which a model, accused of currency smuggling, has been facilitated by a weak, friendly prosecution. When the state itself is not willing to collect direct income tax from traders, and cannot stop smuggling by imposing exemplary heavy punishment on offenders, then a deficit in tax collection is a foregone conclusion.
Malik Tariq Ali
Published in The Express Tribune, December 4th, 2015.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.
