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It seems that our Finance Minister Ishaq Dar runs the finance ministry of a Pakistan sitting in some foreighn country. All the time he says that the inflation has went down the GDP has seen a growth and etc. If this would have been half true then why the prices of common commodities are rising every week or every month? These politicians are corrupt and only want the budgets for their personal gains
@antanu: if u are a nongovernmental employee, you can apply for Below Poverty card to get MASSIVE CONCESSIONS AND SUBSIDIES. so there are millions of such rich owns big house, car, bike, AC..... are benefiting such.
Well a 4% growth rate is pretty poor for an underdeveloped & overpopulated country where population growth is at a similar rate, not to mention the country has a significant 'youth bulge' it could/should utilize.
This is just a result of decades of having no clear economic policy & direction with each successive government getting by on a day to day basis - surviving on meagre tax collections & both foreign (with strings attached) debt & domestic borrowing (causing inflation, crowding out etc.) with no long-term economic vision.
Our policy makers, ranging from the limp economist/intellectual to the unwilling ruling elite - have had absolutely NO idea on how to run the economy and leverage our demographic/geographic strengths to improve the lives of all economic classes (both the poor & the rich).
/rantover@antanu:
"Yes…by playing with figures. In one swipe daily earning for poor was raised to 29/- from 27/-…and LoL…300 million crossed the Poverry Line."
Actually, the FT article that "economist" above posted shows that the the poverty line was raised to $1.78 for 2011 from the $1.55 for 2005. Even with the increased poverty line, India posted a decrease of the number of poor from 400M in 2005 to 175M in 2011.
Here is an excerpt of the FT article:
*"http://www.ft.com/cms/s/0/091808e0-d6da-11e3-b95e-00144feabdc0.html#ixzz33WZ5VdT1
In India alone the number of people living on less than $1.25 a day fell from 393m of the country’s 1.2bn people to just over 100m based on the 2011 numbers, the CGD’s economists calculated.
Even setting a poverty line equivalent to $1.78 in 2011 PPP dollars ($1.55 in 2005 PPP dollars), the Brookings researchers found that the number of people living in extreme poverty had fallen by almost a third to 872.3m.
The calculations have also shown a huge shift in where the poor live. The current official estimates based on the 2005 PPP numbers have almost half of the world’s poor living in South Asia and just over a quarter in sub-Saharan Africa. But thanks to the big gains in India, both the Brookings and the CGD researchers found the two regions effectively had swapped places, with Africa now home to four in 10 of the developing world’s poor."*
@Ayesha - Yes you are correct peace and stability are needed for economic growth, but we can't blame it on military coup. Every military coup in Pakistani history was bloodless, and invited by politicians after recieving 2/3rd majority from public. Instead of using people confidence to build institutions and improve system through legislations, politicians used public mandate to strengthen their grip on power and make Pakistan as a kingdom for their families. Thus resulting in a coup with popular support from people. Unfortunately, politicians still did not learn their lesson from history.
@fus: 'start using some common sense,' I would recommend you to read reports on levying tax on agriculture by different commissions set by governments from time to time.It would give you a better idea so as whether to put tax on agriculture or not.Btw it requires more than a common sense for such important issues. Also this subject is no more a federal issues after 18th amendment. Having said that I'm strongly of the view for implementing community taxes on population residing in villages.At the moment there is none and entire population is a huge burden on national exchequer.To build streets,sewerage,dumping of trash etc rural population has to pay community taxes.It's a must. Also reading is a must my dear.
The best way to destroy a country is to burden it with unsustainable DEBT........well done PML-N, this is irresponsibe behaviour even Zardari would be proud of.
Budget 2014-15 is incorporated by corporate elites whose history regarding the poor of this homeland is shameful. They always try to boast up their own businesses. No direct tax on agriculture is levied as landlords are member of parliament. As per media reports, government is increasing 5 to 10 % in salaries and pensions. Having business mind, they expect more work with low salaries that is really irrational and immoral. High rise in prices and living cost have pushed the people to find wicked ways to meet their living costs. Resultantly, corruption in its all faces and forms is rampant in our every sphere of life. PPP government has always increased salaries whenever it has got chance to rule but the history of incumbent government regarding increment is not good. Having business mind, they expect more work with low salaries that is really irrational and immoral. Metro bus for the people of Pakistan is luxury not necessity. For this poor, illiterate, war trodden and economic hit nation the priority is not metro bus but food, shelter, cloth, education, safety etc. Pakistan is in dire need of building and maintaining educational institutions, industries, agricultural revolution, technical colleges, art and craft centres etc. Here schools are without buildings, walls, students and books, here water and energy crises have eroded the economy, here terrorism has swallowed countless Pakistanis, FDI and peace, here poverty has snatched square meal, here people are forced either to drink contaminated water or no water, here children are dying of hunger and thirst, here people are suffering from dengue, polio, hepatitis, malaria and TB, here unemployment has made the people criminals whereas government is busy in drafting luxury projects like metro bus which have no rationales. Government should not waste national exchequer on useless projects but set priorities to solve national issues keeping in view cost benefit analysis and public demands. Government must look after the poor, the labor , the employees and the common men. Otherwise, the day is not much away when hungry people will tore there bustards like beasts.@usman786: Federation cannot tax agriculture. It is a provincial subject. Read the constitution and stop parroting talking points
@Dr. Abid Shah Mashwani: "For how long PMLN and PPP will fool Pakistanis?" Politicians are 'corrupt' is the preconceived notion that shortens your sight to see visible progress around you.Pakistan of today is far more developed than Pakistan of eighties and that despite continuous political instability.Let democracy work so that we see speedy progress.Give respect to people you have chosen to, work for you.Bashing politicians will only help thugs who believe in ruling Jahil awam rather than serving them ,our history speaks for that. Thank you.
@Ayesha: Still trying to hide behind same excuse that Pakistanis living all over the world listening to for ages/decades...? Is this the best response that ppl like you come up with?
@economist: Yes...by playing with figures. In one swipe daily earning for poor was raised to 29/- from 27/-...and LoL...300 million crossed the Poverry Line.
@sabi - start using some common sense, if you have an income, you should pay tax, if a salaried person is paying then an agriculturalist should also. Anyone earning more than 12 or 15 lac per year should pay tax, isn't this enough for the waderas and industrialists who have been sucking blood out of people.
@Dr.Abid Shah Mashwani India, Malaysia & China took a decade to grow up and their system is stable for more than 2 decades. No coup no riots for 2 decades. That's what it takes to gain that level of stability.
All content produced by Ishaq Dar has been published here. It is not analysis.
India & china lifted around 300 million & 400 milin ppl out of poverty respectively acco to world bank lastest ICP report based on PPP.India now have only 11% poor!what about us??http://m.ft.com/intl/cms/s/0/091808e0-d6da-11e3-b95e-00144feabdc0.html
With these fig we can compete with bangladesh & sirilinka!
For how long PMLN and PPP will fool Pakistanis? Finance minister favorite statement is "as compared to last 5 years (PPP) growth was upward". How about as compared to India, Malysia or China which way was growth? Mind you, 60% Pakistan was under PMLN rule even during last 5 years, so you should show some growth.
@usman786: "Why No agriculture Tax" Why agriculture tax?
50 percent of population lives below the line of poverty line and we are building metro only for the sake of political mileage and vote bank..in one year PML N government has taken more loans then full tenure of PPP, this is economic survey..