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Undocumented economy and tax evasion
Tax evasion aided by lawyers manoeuvring various laws is done universally, but is rarely done so defiantly and openly as is the practice in Pakistan. Financial crimes and tax evasion is considered a conspiracy against the state in the developed world and those caught face strict punishment.
No system of governance can function without tax revenue levied uniformly on all sources of income and rule of law and constitution.
Pakistan today is facing a financial economic crisis, whose enormity threatens our national security and state sovereignty. The problem is not with tax amnesty schemes, which if implemented in the true spirit of laws and regulations can widen the tax-net and increase revenue, but the lack of political will and honesty of those in power to penalize those who defiantly refuse to pay taxes and declare all their taxable incomes.
The defiance with which tax is evaded and the ease of doing undocumented business in Pakistan and the conflicts of interests of its paid bureaucracy haunts this country.
When over 55% of all commercial business ventures are owned by foundations which enjoy tax exemptions and subsidies, than the economy is bound to collapse. Real estate business where black money is parked enjoys repeated tax amnesty schemes and minimal taxation.
Foreign debts are sought to meet non-development budget, with absolutely no fiscal space for development projects and providing relief to citizens. The burden of foreign debts and loans escalate beyond the limit, and the state becomes insolvent. Pakistan is facing this crisis.
Even in Karachi, the financial capital of Pakistan, most business ventures, including posh restaurants located on sea front in cantonment refuse to accept credit cards. Same is the situation in other parts of the country. All this is done defiantly in know of FBR and law enforcement.
MALIK TARIQ ALI
Modern amusement and sapiens
Glimpsing into antiquity, sapiens used to be involved in various physical activities. They used to listen, read and write even their mundaneness. Thus, they were active and creative. The habit of reading was one of the first-rate habits. It not only amused the people, but led them to the shores of knowledge and creativity. Moreover, games (sports) were the only, making them energetic.
Additionally, there was no addiction to any digital practices. As screen addiction is on the rise currently, which is roaming across the world, damaging people’s brains in general and the youth’s in particular. Secondly, radios and all accessories of that era, let the people know the essence of listening and observing.
To cut a long story short, there were no short cuts in the life of the people. They were not living their lives on the strength of gadgets but on their own. Sadly, all has diminished. People have left their lives, being led by the machines and giving them cheap entertainment. These days, people have buried their heads in sand and have reclined on the grounds of accessories and gadgets.
Despite being involved in any one of the above-mentioned activities, folks have made themselves lazy owing to the inventions—making them sluggish. They must practice, but with regard to their mental and physical health.
Impending healthcare collapse
Admittedly, there is an urgent need to take adroit measures to confront the impending healthcare catastrophe to stave off miseries of the sick people and deplorable condition of the overall country’s healthcare segment. Red-tapism has always created hurdles, especially clumsy policies instead of sorting out or facilitating the important sectors concerning the amelioration of the already deteriorating human condition.
Taking into account the menacing after-effects of the inept policies of the government in respect of the healthcare sector faced with a host of problems could result in the severe crises to a large extent badly wreaking havoc thereof, need to be nipped in the bud. If the prompt action is not taken by bringing about substantive steps to re-evaluate its rigorous approach, replacing it with rational and yielding tactics. It is indeed an irony of fate that the rudimentary medicines like Disprin, Panadol and cardiac pacemaker are not available, inaccessible to a common man.
The legal procedures pertaining to importers, especially for the letter of credit (L/C), extension in deadline for the registration and, above all, the burgeoning drug prices need to be regulated forthwith. I look forward to urgent/remedial steps to be taken for the solution of the woes of the ordinary citizens.