Demonetize the 5000, 1000 notes in Pakistan?

[sady]

Right, the current government will only make such a move if they aren't corrupt themselves..


Only 16% ppl in Pakistan have a bank account.... it will force people to open bank accounts going digital will...


Thats big benefit mate, $200b for start and much more to come.... Now the percentage of PPL who pay tax in India will go up from 2.5% to atleast 5%?

You are right. There are three reasons why current gov will never do it;

1. MNAs surviving on corruption and funding of Party through organised corruption.
2. LeJ ASWJ JUI funding will cease causing loss of votes to PML N and support
3. The traders and businessmen who are major vote bank of PML N will never accept such a system where they will have to pay due tax.

This goes for all Political parties in Pakistan.

 

[EpiiC]

Pakistan should wait and watch though few things can be started now like opening bank accounts and digitization. Why would you pay bills by handing down cash and wasting your time. Why go to ATM, take out cash, manage it and pay grocers, electricity company or cab. Digital is the way to go. Less black money, more convenience.
Digitization will not happen just by internet and smartphone. You need complete eco system. It might be a good opportunity for IT start ups. Pakistan is a big economy. 16 % etc is too less. You already have CNICs, just open accounts and digitization.
See Kenya example.

Right Mate, This is what I am saying... Digital is the way to go.... Our leaders have no vision.....

 

[Zibago]

Pakistan should wait and watch though few things can be started now like opening bank accounts and digitization. Why would you pay bills by handing down cash and wasting your time. Why go to ATM, take out cash, manage it and pay grocers, electricity company or cab. Digital is the way to go. Less black money, more convenience.
Digitization will not happen just by internet and smartphone. You need complete eco system. It might be a good opportunity for IT start ups. Pakistan is a big economy. 16 % etc is too less. You already have CNICs, just open accounts and digitization.
See Kenya example.

Simple the govt here taxes bank accounts people have a genuine reason to avoid the banking system altogether
No one wants to be triple taxed

 

[Margarita]

Its unrealistic to expect such high digitization of fiscal system in a place with computer literacy issues it should be promoted but expecting people to shift in such a short time period is something that is not possible

Good thing is cheap smartphones are reaching even remote locations but yes the level of illiteracy and poverty is there in our countries, expecting complete digitization in a short period of time is unrealistic.

 

[EpiiC]

In Pakistan after tax on current account number of active account holders has actually fell and we will see a similar trend for as long as the tax isnt overturned

Situation is dire... and currently tax to GDP is 12.4%..... needs to be 25% soon and stabilize around 33%

 

[Great Sachin]

No way..
Watch the current status of India....
People are dying just for exchanging new notes..

80 out of 1.3 billion people died...most of them were 70 yrs old
It might have happened if they were standing in any other line....Since they were in bank line, it became big news

 

[Zibago]

Pakistan should wait and watch though few things can be started now like opening bank accounts and digitization. Why would you pay bills by handing down cash and wasting your time. Why go to ATM, take out cash, manage it and pay grocers, electricity company or cab. Digital is the way to go. Less black money, more convenience.
Digitization will not happen just by internet and smartphone. You need complete eco system. It might be a good opportunity for IT start ups. Pakistan is a big economy. 16 % etc is too less. You already have CNICs, just open accounts and digitization.
See Kenya example.

Simple the govt here taxes bank accounts people have a genuine reason to avoid the banking system altogether
No one wants to be triple taxed

 

[EpiiC]

Good thing is cheap smartphones are reaching even remote locations but yes the level of illiteracy and poverty is there in our countries, expecting complete digitization in a short period of time is unrealistic.

Pakistan situation is very dire and critical... we have countries 25 times smaller than us have larger economies... we have tiny economy... small of amount of electricity.... small amount of nearly everything..... Tax to gdp is 12.4% .... India is at nearly 18%!

You are right. There are three reasons why current gov will never do it;

1. MNAs surviving on corruption and funding of Party through organised corruption.
2. LeJ ASWJ JUI funding will cease causing loss of votes to PML N and support
3. The traders and businessmen who are major vote bank of PML N will never accept such a system where they will have to pay due tax.

This goes for all Political parties in Pakistan.

Imran Khan will make this move as he is least corrupt?

 

[T-72]

don't do it, people !

so far it's been nothing but a huge fucking headache for common law abiding tax paying good citizen regular folk, a lot of regular lives and businesses have been thrown out of gear, and for what ? a handful of corrupt people have apparently lost their tax evading stash of monies..

shitty fucking collectivist communist style move, and every other moron cant stop parroting the govt propaganda, a pathetic bunch of zombies who cant think for themselves.

 

[EpiiC]

don't do it, people !

so far it's been nothing but a huge fucking headache for common law abiding tax paying good citizen regular folk, a lot of regular lives and businesses have been thrown out of gear, and for what ? a handful of corrupt people have apparently lost their tax evading stash of monies..

shitty fucking collectivist communist style move, and every other moron cant stop parroting the govt propaganda, a pathetic bunch of zombies who cant think for themselves.

Most of your nation has welcomed this beautiful move. Honestly Pakistan needed to do this more than Indian... as Pak have 0.5% tax payers and India has 2.5%.... so PAK more in need of this move to go digital and demonetize.

 

[Great Sachin]

You need a honest PM like Modi to take such action....i dont think Sharif is so sharif

 

[AshishDelhi]

Simple the govt here taxes bank accounts people have a genuine reason to avoid the banking system altogether
No one wants to be triple taxed

Well then govt needs to change policies. Even India has taxation issues but few corrective steps have been taken, GST being major one.
I guess and hope in India, things will get better for direct tax payers. We are undergoing positive changes though weak work economy and big population are big risks.

 

[EpiiC]

You need a honest PM like Modi to take such action....i dont think Sharif is so sharif

What has Nawaz sharif done to go digital or fight corruption? in all his terms in power he pales in comparison to Mr Modi.

 

[sady]

Pakistan situation is very dire and critical... we have countries 25 times smaller than us have larger economies... we have tiny economy... small of amount of electricity.... small amount of nearly everything..... Tax to gdp is 12.4% .... India is at nearly 18%!



Imran Khan will make this move as he is least corrupt?

I doubt it. IK will take years to solidify his power if he gets it somehow. I think he too will be voter conscious. Unfortunately I do not see anyone in Political scene to have that vision. Maybe as a part of anti terror prog Army might shove it down civ govs throat however that too is very unlikely.

 

[Ajaxpaul]

I just hope things improve for the salaried class. We have been carrying the tax burden for too long.