Sunday, July 14, 2024

Pakistan Will Destroy Without Taxing Elites: Former Finance Minister Miftah Ismail

Former Finance Minister Miftah Ismail thinks that taxing the elite is necessary for dealing the country’s financial issues. He argues that without taxing the wealthy, the economy could be at risk of destruction. Ismail suggests that the government should prioritize reducing expenses to improve the overall economic situation. By implementing measures to control spending, the country can work towards a more stable financial future.

Ismail criticized leaders for increasing taxes on salaried individuals in 2017, which he believed unfairly impacted them. He pointed out the notable disparity in tax collection between salaried individuals and large exporters. This highlights the need for a more balanced approach to taxation, ensuring that the burden is distributed equitably among different sectors of the economy.

Ismail also highlighted the absence of property and agriculture taxes in provinces and voiced his opposition to taxing retailers and wholesalers. He previously advocated for load shedding during the summer to save energy, early market closures, raising gas prices in winter, and shifting the load to electrical appliances.

Ismail also supported the idea of closing markets at 8 pm as part of an energy conservation plan. These ideas aim to address energy consumption and promote efficient resource utilization.

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