The government should focus more on the inflow of remittances and reforms in tax administration to save the country’s future, said the Pakistan Businessmen and Intellectuals Forum (PBIF).
In a statement, it said despite massive investments, the country’s exports were continuously falling. “Increased remittances and a better tax mechanism can make Pakistan a respectable country; one that can live without grants and loans to run its affairs,” it added.
“The Ministry of Overseas Pakistanis should be empowered while the expanding undocumented economy should be attacked from all sides,” suggested PBIF President Mian Zahid Hussain.
“Tax exemptions have inflicted a loss of over Rs100 trillion in the last 38 years, which is above the losses that have resulted from terrorism.”
Published in The Express Tribune, February 16th, 2016.