In Pakistan the rich pay no taxes, with the biggest land owners never paying any tax. Only 0.5% of the population pays any tax, while Pakistan is the only country that has taxes on daily use items as GST and very less tax on luxury items. FBR, the main tax collecting organization, has miserably failed to collect any taxes from the big fish and have only been able to enforce it on the salaried class.
Using the example of some successful countries, Pakistani government should ensure a ‘Free-Market’ and for that reason the Governments should be of a regulating body that creates rules to basically stop any and all monopolies. With strong economic regulations, Pakistan will be able to avoid the same problems that many Western nations had to face when their economies grew and by utilizing the principles of Islamic Monetary Economy, Pakistan will be able to create a strong and just economy for all.
ENGR. SHAHRYAR KHAN BASEER,
Peshawar, July 10.