KARACHI – The economy of Pakistan is on the brink of a disaster and if the people at the helm of affairs do not take corrective measure on urgent basis, it would have devastating consequences for the country, Muttahida Qaumi Movement (MQM) parliamentarians observed on Monday at the Khursheed Begum Memorial Hall of the MQM headquarters Nine-Zero in Azizabad where the overall economic position of the country was being discussed. Members of the MQM Coordination Committee were also present at the meeting where proposals for the incoming budget were discussed as well.
Senators Ahmed Ali and Abdul Haseeb and provincial minister Sardar Ahmed briefed the parliamentarians regarding the economic position of the country.
They said that the budgets need to be drafted keeping in view the incomes and the expenditures, but this basic consideration has always been cast aside in the past and the burden of inflation is passed on to the common people, which is gross injustice to them.
They told the participants of the meeting that it is imperative for salvaging the economy of the country that the tax net is increased and the agricultural income is made taxable. They called for reduction in water, power and gas charges for industrial development. Solid steps should be taken for elimination of corruption from the Federal Board of Revenue and other government departments. They stressed upon adopting the policy of self-reliance by exploiting the natural resources available in the country.
Non-developmental expenditures should be reduced and savings and investments should be promoted.
They demanded ruthless accountability in order to recover loaned amounts worth billions of rupees. They said that the country cannot be put on the path of progress and prosperity unless reforms are made in educational, health and economic sectors of the country. They added that reforms are the only way to curb inflation and unemployment and to free the country from the shackles of foreign debts.
