Hard work, dedication, and sincere efforts can be rewarding. Some people may be working towards improving the economy, but negative perceptions, fueled by social media claims of Pakistan’s bankruptcy by the PTI party, can have a negative impact on both domestic and international sentiment towards the country. The economy is largely influenced by perceptions and sentiment.
Economic Reasoning
Fifty percent of Pakistan’s economy is undocumented meaning there would be no taxes on the books not kept. Also, in the documented economy, almost all the registered taxpayers keep two books. These are unchartered areas, unaccounted. State-owned enterprises (SOEs) in certain sectors incur significant losses annually and also hinder the competitiveness of our economy through opportunity costs. By privatizing these SOEs, we can decrease the role of the government, increase tax revenue, and stimulate employment and economic growth. Privatization is always against assets that are of value to the private equity holder and the garbage remains for the Government e.g. the private entities are always discussing Roosevelt Hotel property in New York when it comes to PIA but nobody wants to rectify the operational capabilities.
