How to Make Pakistan an Economic Power?
The degree of the sovereignty of a country, is directly proportional to the state of economy of that nation. Actually, in constant growth & development lies our salvation. Secondly, we Pakistanis must know, that without any doubt, the easiest and surest way of moving ahead, is to stand on our own feet.
Foreign aid, can keep us afloat, but won’t allow us to swim.
Now the time has come to separate the growth, development, education, eradication of poverty & security of Pakistan, from the politics, forever.
In this regard, it is suggested that, we should aim to bring Pakistan, to the level of Singapore of 2010, by the year 2030. All politics & other considerations should be made subservient to this target for 2030, even if we have to abolish weekly holidays for the next 20 years & reduce our daily sleeping time to 6 hours.
All stake holders in Pakistan must immediately come forward for deciding about the direction of the future of the nation.
Biggest factor in any victory is self-confidence. Anti-thesis of terrorism is education, coupled with economic emancipation.
As such, the nation must embark upon the following agenda, to resurrect our economy without any further loss of time.
1. Request to all foreign donors for a 5 years moratorium, on all debt repayments by Pakistan, which is a frontline state of the world’s war on terror.
2. 20% per annum reduction in all non-developmental government expenditures, plus total freeze in all perks paid from the national exchequer, involving foreign currency.
3.Maximum tax rate on each and every type of income in Pakistan should be fixed at 10%. This will not only bring huge revenues to the government but will also discourage the tax evasion tendencies.
4. Increase in productivity & exports with liberal tax relief to industry, commerce & trade.
5. Set a target for 20% per annum increase in foreign remittances, by offering innovative incentives to expatriate Pakistanis.
6. Abolish FBR (which will alone increase income by Rs.500 billion) & impose flat 10% tax on all & every type of income (as already mentioned at 3. above), without any exemption (except for the security forces personnel, whose salaries may be doubled with expected receipt of un-precedented increase in revenue, due to this formula). This will not only reduce income tax burden on salaried class (with max. tax rate of 10%) but will also result in so much increase in revenues, to the extent that government will not require any tax imposition in the budget. Plus, the government will be able to give tax free salaries to all armed forces, rangers, police and other security agencies personnel, who are shedding their blood, in fighting the menace of terrorism, for our safe tomorrow.
7. Initiate steps (by imposing economic emergency) to bring each and every economic activity under document.
I am more than confident that by the dint of sheer hard work, sincerity & honesty, which is imbibed in the bones of Pakistani work force, we can surely bring Pakistan, into the comity of 20 developed nations of the world, in the next 15-20 years.
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Sir, I 100% agree with these suggestions and looking forward for people in power to have a plan till 2020,
Thanks for sharing
Regards
Effective and implementable suggesstions. But our people in power have different priorities and politicians not educated enough to understand their long and short term positive implications. First pre-requisite, change the people in power and that requires educating people to use their voting power. Endorse your suggesstions as a Corporate Banker.
Jawed Sahib, it is nice to read your comment. I know you from Islamabad, was one of your bank clients and going a bit further taught your children at Islamabad Convent School. Please update me as to their doings. Currently I am doing my PhD in Information Systems.
I am quite sure, almost all of the readers of blogs know what will bring Pakistan out of its current crisis and push it forward. It is well known that the talent and resources in Pakistan are enviable. Ideas and plans are abundant. Implementation is where it all stalls. It is easy to type up all that vapor ware, crystallizing it to become real time system is where the energies should be directed.
Ask your self first, why are such ignorant and undesirable people ever get into politics. Then create a solution to change the process so such people are filtered out in a natural way.
There are some fundamental changes that are necessary in Pakistan. That we are not equipped to do. My suggestion present some ideas on how to change the genetic make up of the Pakistan majority.
Perhaps people like you and I can make a difference. So let us put our thinking caps and then unite to execute ideas into realities.
Please note that we as Muslims can only survive and exist in this world respectfully, if our religion Islam is practiced in each and every sphere of our personal and practical life of citizens and state.Thank you.
You have put forward some excellent suggestions. The next step is to penetrate it in the minds of all Pakistanis. We need to plan as to how to go about it. No doubt Islam is the blood line to implement this change. The foundations of Pakistan were laid on Islam. Islam is the practical and only way of life, which changed the minds, and souls of a generation which was burying their daughters alive. What we need to do is to critically analyze our own-self, create the fear of Allah and practice Taqwa in all our endeavors. A change will only come, when we become the models of the change that we preach.
Restore law and order,equality and justice.Most important literacy rate to increase,bring the brain infront and use it.
For growth Paki Economy, In my Openion:-
1. First of all, Our Govt. should stop all Banking system which based on “Interest (Sood / Ribba)”.
2. Govt. should order to Police that shoot to kill all Terrorist/Curropted politions/Theif/Kidnappers/Extreamist, on the spot.
3. Collect Zakat from All over Pakistan on strickly bases.
4. All Market should close at 5 time prayers.
5. All Govt/Pvt employees are fully Tax free.
6. The Pakistanis who have more than one nationalities, Govt. should cancell their Paki Passports.
7. All public and Govt. buildings who have more than 3 floor, Their Outer wall should be use for acquire Solar Energy.
8. All Curropt govt. servant should be hanged on public places.
9. Media should be banned for the news which are making thought “Against Pakistan,Islam,Two nation Theory”.
10. Non Muslim culture should be banned in all over country specially for Paki Media.
11. should close all types of prize scheme/gift schemes in pvt and govt. sector.