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  1. #1
    Junior Member

    Join Date
    May 2016
    Location
    Lahore Pakistan
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    Barriers in Economy (personal Survey).

    I visited more than 100 shops all are factory outlets of shoes, fabrics etc. After a long time in the market and analyzing the situation I felt that all the persons present in economy whether a manufacturer whole seller or a retailer or even the customer of luxurious thing or a necessities of life is under extreme pressure (uncertainty in market, no surety about the flow of market and no definition of business).Moreover people felt unsecure to share their views and suggestions about the government machinery due to no one have believe on any other person whether he is just an innocent person whether reporter or any one. All of them complain about the uncertainty, neither government neither assistance nor safe economic conditions. Everyone is full of tension and just complaining about their problems and no one has time to listen their problems. There is no such benefits that the government is giving to the investors regardless of the industry.
    As a brief review of the economy of Pakistan shows that there is no flow of our economy we select our way and without thinking about the facts and figures start walking on that way apart from of the results. We move in a hapazaradly manner whatever our wish we move in our craving way. Because our economy is not on a market system but rely on a tribal system .Inflation rate is the main factor of all this pressure, PPP (purchasing power of people) is decreasing due to the amount of taxes pile up on them and continuous depreciation in value of Rupee. How people can afford the luxuries of life in such case where their income is not efficient to provide necessities? Taxes are paid in all scenarios, all are paying taxes regardless of the financial positions but there is no relief for people that are burning midnight oil and still making both ends meet hardly. What are the future of such country in which there is high level of unemployment and is in recession or depression and sometimes in recovery phases for past 10 to 15 years. Bearish trend is common and economy is falling downward without any expanding in the growth of economy. Our economy is rolling like a sultry snow ball which only moves in obscurity and there is no goal of it or also grew larger due to the crutches of loans from IMF and WORLD BANK. The entire industrial sector from Pakistan is leaving and public limited companies are privatized by the government. Here the economy growth graph of the PAKISTAN from year 2001-2011:


    Now here if we the GDP growth of economy in 2001 we were on the rate of 2.0 and then we see the bullish trend in economy till the end of 2005 where GDP is on 9.0. Then we see the downward sloping in the economy and the worst of the GDP growth was faced in year of 2008-2009 but the economy stays on the snailís pace and no effective growth is shown in economy. We can say that our economy is in declining condition from past 10 years.
    Taxes are implemented on every citizen in Pakistan and here we see the comparison of the tax revenue of Pakistan with the other countries:

    Here we see that most of the tax revenue is earned by FRANCE and the on the graph the second one is GERMANY and we see that PAKISTAN is the last one earning lowest tax revenue in comparison with the major economies of the world. And here we see that our population is nearly 180 to 200 million and approximately most of us are eligible to pay tax but we are incurring lowest tax revenue. What is the main cause of such problem? Most of us not pay tax and use resources to abridge the taxes amount.

    Solution:
    Tight Fiscal and Monetary policy should be implemented so that when government get tax revenue according to asset of people. Everyone should be under the head of Justice without any compensation. We must rely on our production to save as much foreign exchange as we can to stabilize economy. Loans and other grants must be paid back from the tax revenue so that we can stand on our own. Government should revise its plans in a more structured manner rather than making the decision of progress on urgent basis. Short term plans of five years can be fruitful, the example of Japan, China, South Korea are before us. The working on solid basis must grow in a grand palace. New investment and revolution in industrial sector reveals good consequences. Our main revenue is from agricultural sector and this sector is totally backward in each and every aspect. All modern technologies must be implemented to agricultural sector to increase per capita income. When we are free from piles of loans than we can stand on a good side and can grow much better as compare to today. Due to recession in the amount of loans and other aspects we can develop in a much better way and element of self-respect will develop. Due to increase in government spending lots of opportunities emerged and ultimately unemployment will decrease. When there is mutual co-relation between the government and general public progress will be finally anticipated.

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  3. #2
    Super Moderator

    Join Date
    Aug 2011
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    Wow such a nice writing skills. Good personal insight

  4. #3
    Junior Member

    Join Date
    May 2016
    Location
    Lahore Pakistan
    Posts
    3
    Thanks Sadaf

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