Loud Thinking

Posts Tagged ‘Industry’

The degree of the sovereignty of a nation is  directly proportional to the state of economy of that nation. Actually, in constant growth & development lies our salvation. Secondly, we Pakistanis must know  without any doubt, that the easiest and surest way of moving ahead, is to stand on our own feet. Foreign aid, can keep us afloat, but won’t allow us to swim.

Biggest factor in any victory is self confidence. Anti-thesis of terrorism is education, coupled with economic emancipation.

As such, the nation must embark upon the following agenda, to resurrect our economy without any further loss of time.

1. Request to all foreign donors for a 5 years moratorium, on all debt repayments by Pakistan. 

2. 20%  per annum reduction in all non-developmental government expenditures, plus total freeze in all perks paid from the national exchequer, involving foreign currency. 

3. Increase in productivity & exports with liberal tax relief to industry, commerce & trade.

4. Set a target for 20% per annum  increase in foreign remittances, by offering innovative incentives to expatriate Pakistanis.

5. Abolish FBR (which will alone increase income by Rs.500 billion) & impose flat 10% tax on all & every type of income, withour any exemption (except for the security forces personnel, whose salaries should be doubled with receipt of un-precedented increase in revenue, due to this formula). This will not only reduce income tax burden on salaried class ( with max. tax rate of 10%) but will also result in so much increase of revenues that government will not require any tax imposition  in the budget. Plus, the government will be able to give tax free salaries to all armed forces, rangers, police and other security agencies personnel, who are shedding their blood, in fighting the menace of terrorism, for our safe tomorrow.

6. Initiate steps (by imposing economic emergency) to bring each and every economic activity under document.  

I take this opportunity to advise Mr. Robert Zoellick, that the constant problem of getting funding for the WB can rather, easily be tackled, by laying more emphasis on the counter corruption measures for governments of the Aid Recipient Countries (ARCs).

Moreover, this counter corruption strategy (CCS) will provide manifold benefits, both to the WB & the ARCs.

Just to elaborate the above proposal, it should be understood that mainly the corruption has two roots i.e. direct kick backs and denying installing regimens, that puts full stop to the leakages of billions of dollars of government revenues.

In this regard, Turkey could be cited as a glaring example, where government revenues increased manifolds, when one of such systems was put into practise, on cigarette industry.

In case, World Bank under the dynamic and visionary leadership of Mr. Robert Zoellick, needs my assistance on the proposal, I shall be too glad to offer my services, which may help improve the living conditions of the poor & the suffering people of the world.