To reduce the deficit, authorities should take action to reduce expenditures and raise earnings without presenting new taxes. It also needs to attempt to decrease circular debt by collecting more invoices (now at 87% vs 93% below PMLN) and decreasing T&D losses (now at 19 percent versus 18 percent below PMLN). It shouldn’t take the easy way of increasing taxes and power tariffs. This will truly set the market in a tailspin. The people of Pakistan are still paying for the imprudent policies of PTI, such as accelerated devaluation, enormous increases in gas and power tariffs, excess increase in rates of interest, crony capitalism (glucose, wheat, medicine, etc), and general incompetence.
Is the Pakistani rupee rate ever going to improve?
There’s a kind of transcendental unity of cultures, creeds, and religions according to Frithjof Schuon, Sadhguru, and so many contemporary intellectual giants. Dollar vs Pakistani rupee, especially if you see how much the foreign remittances contribute towards our national exchequer and improve USD to Pakistani rupee conversions for Pakistan. And if you have an exceptional talent then you are in demand everywhere. Even our great Prophet SAW has told us to ‘migrate’ to improve our economic prospects if we are hard-pressed financially. And then it’s not only the Pakistanis who have moved out. Lots of British, western, US citizens, etc migrate to other lands for jobs, studies and social work, etc! We all need to accept that this world which we all share as a planet is a single country and all of it is God’s Kingdom and we all are its global citizens!
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