What advice EAC has given to government over IMF and economic crisis?

[shah_123]

Imf is there to provide money to avoid
1.Cut loses
Currently we are losing a trillion rupees in power, gas, state enterpsies
2. Make buisness easier
3. Copy India and make business online by introducing e banking and payment methods
4. Wealth tax
5. Tax retail sector


Key is too cut loses abd decrease indirect tax to stimulate growth
A trillion rupees is lost every year with 1/3 just in two sectors power and gas..this done not mostly by domestic but by comerical sector under political patronage

That's what I keeping saying, cut down the loses, freeze the assets of big thieves --- instead of catching the culprits,.govts increase utilities rates, this is Zulm -

Govt should immediately impose ban on transfer of dollars through banks purchased from open market ( other than for few select reasons like medical or education) --- in 2017 alone, 15 billion dollars, purchased from open market, were transferred through banks.

Govts should stop providing legal protection to thieves/ black money in the name of amnesty schemes. ---- there's still billions of rupees wealth not declared in amnesty scheme. Govt should go after the culprits without wasting any time.

Wealth Tax is not fair, as people already pay Zakat@ 2.5% annually.

Retail sector already pays Tax.

The key is broadening Tax base and reducing Tax rates --- doing business is becoming very expensive with current tax structure.

Sales tax should be no more than 10%,
right now it's 17% sales tax, 3% additional sales tax, 3% turnover tax.

Custom duty rates should be lowered, this will encourage people to declare correct value -- FTA is just a show piece now, as govt has taken away all the benefits by imposing regulatory duty + additional custom duty.

and to stimulate growth, introduce interest free loans, rather I would suggest total interest free economy ( I know this is just a wishful thinking)

 

[ziaulislam]

That's what I keeping saying, cut down the loses, freeze the assets of big thieves --- instead of catching the culprits,.govts increase utilities rates, this is Zulm -

Govt should immediately impose ban on transfer of dollars through banks purchased from open market ( other than for few select reasons like medical or education) --- in 2017 alone, 15 billion dollars, purchased from open market, were transferred through banks.

Govts should stop providing legal protection to thieves/ black money in the name of amnesty schemes. ---- there's still billions of rupees wealth not declared in amnesty scheme. Govt should go after the culprits without wasting any time.

Wealth Tax is not fair, as people already pay Zakat@ 2.5% annually.

Retail sector already pays Tax.

The key is broadening Tax base and reducing Tax rates --- doing business is becoming very expensive with current tax structure.

Sales tax should be no more than 10%,
right now it's 17% sales tax, 3% additional sales tax, 3% turnover tax.

Custom duty rates should be lowered, this will encourage people to declare correct value -- FTA is just a show piece now, as govt has taken away all the benefits by imposing regulatory duty + additional custom duty.

and to stimulate growth, introduce interest free loans, rather I would suggest total interest free economy ( I know this is just a wishful thinking)

Really the guy next my home is millioaire has 10 shops and doesn't pay a dime

I am not talking abt sales tax

Zakat is tax refundable ...last i check

 

[shah_123]

Really the guy next my home is millioaire has 10 shops and doesn't pay a dime

I am not talking abt sales tax

Zakat is tax refundable ...last i check

That's what I said, increase the Tax base - this guy with 10 shops should be brought in the Tax net.

Zakat is deductible allowance only if the recipient is registered - majority of the Pakistanis pay Zakat to close relatives/friends.

 

[VCheng]

PTI is in not in favour to fully depend upon IMF, knowing implications. I expect PM may ask for public support & help rise economy through utility tariffs rise. However, laundered and looted money stashed abroad is recoverable but will take time. And, as Government denied any help from IMF; it comes to mind that IMF will use its all might to pressurize xyz country or use any tactics so could PTI Led Government wouldn't be able to recover much to help country's economy. After all, the stolen money belongs to IMF's etc blue eyed boys those who help them influence Pakistan policies through funds.

Going to IMF - or not - is purely a voluntary decision to be made by the duly elected government of Pakistan. IMF cannot force anyone to come to it for loans, or prevent others from loaning money if they choose to do so.

It is all up to GoP to decide what to do and how to achieve their goals as best as possible. We should all know by the end of this month, as the OP states.

 

[Kakaspai]

U don't need academics... u need accountants to go through govt dept spending and make necessary cuts

Bhai no accountants please.We can still feel the aftershocks of ishaq dollar