Economic policies contributing towards poverty
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The Pakistan Economy Watch (PEW) on Sunday said current economic policies are contributing towards poverty in country.
The policies modified under the guidelines of IMF are pushing millions below poverty line and increasing unrest in the country.
The measures adopted as antidote have almost stopped economic activity in the country which is badly reflecting on collections, said Dr. Murtaza Mughal, President PEW.
This situation will compel government to pick begging bowl again and get loans on conditions that are not accepted by large sections of society, he said.
Talking to a delegation of traders from Rawalpindi, he said that unnecessary stress on stability has damaged economy. Investment is now moving from productive sectors to speculation and trade which is not in the interest of country.
“People are reluctant to pay taxes because they know that their money would be used on the welfare of politicians,” he said.
Forcing existing taxpayers to pay more will fan disturbance therefore authorities should focus on expanding the tax net.
Dr. Murtaza Mughal said that the incompetency of successive democratic governments have turned opinion of a sizeable number of businessmen as well as commoners in favour of dictators.
Foreign aid bas always helped the nobility while masses have taken the burden which is a reason behind mass discontent, said Mughal.
