Major Structural Economic Reforms.

Pakistan today is at the crossroads of its history, where it has to incorporate major structural economic reforms, or else face a doomsday scenario. With an agriculture-based economy, there should be a total ban on converting green pastures and fruit orchards or forests to concrete jungles for real estate developers.

This ever-escalating gap between revenues and expenditures cannot be sustained. Any industry or enterprise owned by individuals, cartels or foundations involved in commercial profitable ventures must pay taxes, with no exceptions to anyone under the garb of welfare. Grant of exclusive subsidies and amnesties must cease. Tax exemptions should only be given for setting up education, health facilities etc. which offer subsidies in the relevant field to at least 45% of the most deprived sections of society. All commercial businesses operating within Pakistan must pay taxes on profits, irrespective of who owns them. The benefit of repatriation of profits must only be extended to Foreign Direct Investment for employment generation industries, which...