Pakistan faces 'no risk of default'.

ISLAMABAD -- The National Assembly on Friday was told in categorical terms that the country faces no risk of default. Minister of State for Finance Aisha Ghaus Pasha told the House during the 'Question Hour' that the country was faced with a difficult situation when the present coalition government came into power as the IMF program was suspended. Aisha Ghaus Pasha also said the Pakistan's fifty percent economy was undocumented according to the studies already indicated including International Monetary Fund (IMF) and Federal Board of Revenue (FBR). She said the quarters concerned was making all out efforts to bring reforms in the tax collection system in a bid to generate maximum tax income in order to create further facilities both at the taxpayer and common man's end. She said basically there were two ways to bring improvement in the revenue collection; first by educating the business community about the benefits of becoming the taxpayer and second through taking enforcement measures. 'We have to develop the civic sense in every Pakistani national that he or she has to pay the tax as per his/her income honestly,' she preferred. She said the government provided various facilities to the people such as; education, health, transportation, defense, water and others on the basis of overall revenue collection adding that Pakistan's Gross Domestic Product (GDP) ratio was nine percent which is very low in the world that was why; Pakistan was lagging behind others in the comity of nations. She said the FBR should introduce people friendly policies so that...