Economic Roadmap Summit ‘The government has no business doing business.’
The Pakistan Economic Roadmap Summit took place in Karachi to dwell on Pakistan’s current economic woes and to seek solutions. Renowned economists and financial experts participated in the summit and delivered papers and presentations on possible ways and means to put the country’s economy back on track. In sum, the discussions presented a roadmap aimed at attaining a Rs. 3,000 billion revenue base in fiscal 2012-2013.
Here are the views expressed by some of the leading participants at the event: Tarin called for increasing the tax-to-gross domestic product (GDP) ratio, which is currently a little less than 9 percent. He said retailers across the country paid taxes amounting to Rs. 125 million annually, of which Rs. 50 million came from the Canteen Stores Department.
Naming a few Karachi-based large superstores, he said there should not be any sacred cows when it came to collecting taxes.
About the austerity plan approved by the federal government and four chief ministers in January 2010, Shaukat Tarin said none of the measures the government agreed upon had yet been adopted. “Why does the government need 22 executive jets? Why should the convoys of the president and prime minister have 50 cars? The government must balance its books by cutting expenses.”
Tarin also pointed out that a survey of household incomes which is being undertaken with the help of the World Bank, would lead to fair delivery of targeted subsidies. “Subsidies should always be targeted so that Shaukat Tarin doesn’t get cheap fuel and electricity,” he remarked.