Chairman National Accountability Bureau (NAB) Admiral (retd) Fasih Bukhari said tax revenues worth billion of rupees could be generated for the national exchequer by plugging loopholes in the system and stemming out corruption.
Addressing a press conference here, he said it is estimated Rs12 billion are siphoned off on daily basis because of corrupt practices while tax revenues worth Rs7 billion are evaded per day.
Issuing a corruption paper, he said Pakistan has tax-to-GDP ratio is at 9 percent which could easily be 18 percent like in rest of the world, adding the country may annually receive 2500 billion rupees in taxes, i.e. Rs7 billion daily.
Not three, there are only two pillars of state now in Pakistan, the Bureau chief said clarifying that a pillar consists of legislators and executives and the other one is judiciary.
The legislators, he added, appoint the executives of their choice and such is happening on both federal and provincial levels.
I have already said three months back that Pakistan is losing huge amount of money to corruption on daily basis, he added.
every tool of this corruption is fully backed by president house (aiwan e curreption) and the PM house
Well, what do you expect when the people sitting in the upper echelons, from the presidency to the parliament, are all corrupt.
Now that they've realized how big the problem is, the question becomes what will they do about it? All that money could've been used for more constructive and helpful programs to help the development of the country.
Again people, always check with your consultant before doing a major financial call. It always pay to know the consequence before basking yourself in all that selfishness.
Yet what NAB has done to control this menace…?
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