Pakistan Faces Economic Woes: Narrow Tax Base, Loss-Making Enterprises, and Neglected Industrialization Require Reform
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Pakistan's tax revenue is low and declining, with salaried individuals paying a disproportionate share while many others evade taxes. Expanding the tax net could boost revenue.
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Loss-making state-owned enterprises like PIA and steel mills drain Pakistan's finances. Privatization or new financial strategies are needed.
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Successive governments have neglected industrialization, hurting manufacturing's contribution to GDP. Better policies and infrastructure are needed.
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The oil refining sector has suffered from years of neglect and obsolete policies until recent reforms.
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Solutions to Pakistan's economic issues are well-known, requiring political will and transparency, not genius.