Pakistan is seeking for 5 billion $ bail out package from IMF to solve the fiscal defict related problems. It is worth mentioning that a plenty amount of money i.e 1.5 trillion rupee is already being paid in interst. In such circumstances, bail out packeges or printing of excessive currency will further deteriorate the economic conditions of pakistan. The value of currency will shrink and poverty will further increase. Besides, the subsidy on different products will be further lowered, which is the ultimate demand of IMF.
In order to uplift the economy, the government will have to extend the tax net to wealthy people in order to accumulate more money. According to " Dawn", only 0.4 percent people pay their taxes while the others remain unpaid. Income tax department should be made more vigilant to curb the tax evasion in our society.
Dear fellows, what is your stance on this issue? kindly, give your valuable comments on this issue.