Qoutes from Today's Speech by President

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Re: Qoutes from Today’s Speech by President

@Fraudz

PCG..its the same here, there is tons of wasteful spending in US, newspapers are full of it.

and if someone will say well we cant kick dictators out but in a democracy like US we can vote ppl out and thus have a say in what is being done…well our tax collection was even worse during democratic regimes in pakistan.

I can blame them, I am not happy with increased taxes due to the pressure on schools and county helath depts etc due to illegal immigrants etc who are not paying their share, but I still pay taxes.

I was reading somewere that more than 90% of the people in Pakistan dont pay taxes (actually it said 99% but I am being conservative here).

That is pretty bad..

That 90% maybe right but 99% is wrong. Not saying much but still.

In fact, the Tax-to-GDP ratio has gone down in the past few years for a couple of reasons:

1- The base was recalculated in 00-01
2- The GDP has expanded at a faster rate than the tax revenue.

Call me Captain Obvious but thats the govt. response I hear most of the times. My dad’s pretty happy with the USAS reforms though. We is a tax paying family, in case anyone is wondering. We have already been audited by the govt. some two years back. This audit process is completely random (or so the govt. says) My dad’s primary reason of satisfaction with the reforms is that it has reduced the influence of Tax inspector by a lot.

Tax 2 GDP was around 10 % before i stopped listening to the CBR chairman. It had gone upto 13% if I am not wrong

For anyone interested, the govt is abolishing CBR and constituting a Federal Tax collection dept. (not the exact name) which will be more autonomous. The govt., is also supposed to be coming up with an autonomous stats body and an autonomous trade competition body to replace the toothless Monopoly control body.

I think these r great steps, if the govt does everything right. One of Nawaz Sharif’s best executive order would have to be the autonomy of the SBP. That has helped the banks tremendously.