Pakistan Govt Faulted for Ignoring Laws, Heavy Tax Dependence
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Syed Naveed Qamar’ endorses a report by the National Assembly’s Standing Committee on Finance and Revenue that criticized Pakistan’s government over its approach to budget preparation and economic reforms.
The panel, led by former finance minister Syed Naveed Qamar of PPP, accused the administration of continuously disregarding laws meant to strengthen fiscal planning and transparency. It took issue with the continued reliance on indirect taxes and petroleum levy instead of expanding sustainably the country’s tax base.
Moreover, UNDP consultants warned that Pakistan is still vulnerable due to its ‘fragile stabilization path.’ Despite some signs of gradual economic recovery, inflation projections are expected to exceed 12 percent. The committee highlighted this and other concerns in a meeting where no concrete steps towards an improved budget strategy were discussed.