A Budget By And For The Elites
All annual budgets of federal and provincial governments—civil or military alike—for the last five decades, especially tax proposals through Finance Bills, have strengthened elitist structures. For decades, Pakistan has remained captive in the hands of the indomitable militro-judicial-civil complex
All political parties in their manifestos
Budget, Taxes & GrowthContrary to what is commonly understood, elitist structures are not represented merely by a handful of individuals controlling state institutions and enjoying tax-free extraordinary perks, perquisites and benefits. These elitist structures reflect in all sorts of discriminations—in taxation, extorting money from the poor for the benefit of the rich, in academics, non-availability of quality education and health facilities for all, crony capitalism creating monopolies, denying finance to brilliant young entrepreneurs for starting and competing with established businesses, rent-seeking opportunities created through state policies for politicians in power and non-providence of social services to the masses etc.
On an average, a rich non-salaried individual having annual agricultural income of Rs. 6 million is paying 15% tax as compared to high-paid salaried professionals paying 35% on the same income.
The Constitution of Islamic Republic of Pakistan, in its essence, is egalitarian, but the exploitation of all kinds continues unabated. Article 3 of the Constitution says: “The State shall ensure the elimination of all forms of exploitation and the gradual fulfillment of the fundamental principle, from each according to his ability to each according to his work.”
Pakistan’s economy serves only the privileged classes. The militro-judicial-civil-complex, politicians and absentee landowners represent less than 1% of the entire population of over 244 million
Adulthood And Soldiering: Encountering Zia-ul-Haq And Planning For The FutureOn an average, a rich non-salaried individual having annual agricultural income of Rs. 6 million is paying 15% tax as compared to high-paid salaried professionals paying 35% on the same income. While, those providing employments to millions pay corporate tax of 29% plus surcharge and many other levies and double taxation on dividends. How can we achieve sustainable growth without new investments and rapid industrialization?
Muhammad Aurangzeb
The rich-poor divide through erratic taxes
Growing inequalities in income and wealth is a serious issue in Pakistan and........
© The Friday Times
visit website