These are the steps that we need to take if we want to move forward, get out of this rut, and get rid of an economic crisis that just doesn't seem to end.
Electoral Reforms
Tax Reforms
Privatization (Incase you are a socialist ... please don't assume anything from just the mention of the word 'privatization' ... let me explain.
Electoral Reforms:
Enlist an honest parliament. Clean the Senate and provincial assemblies from corrupt people. To counter this, you'll hear many blunt arguments. The ones I have heard are all aimed to lead one to hopelessness but remember, better people than those hopeless humans exist, those who are hopeful even after sharing the same struggle, efforts and injustice as the hopeless ones endure. The first reform that needs to be done is electoral reform. Get a single honest and completely new party's 2/3rdd majority in the Senate. The majority will make sure they may not face blackmailing when voting for important decisions to run the country (like tax reforms and privatization that follow, etcetera).
Tax Reforms:
A government needs money to survive and run the country. There's a system through which this money is collected. This system is called taxation. Right now, there's a web of taxes implemented, unclear, ambiguous and messy. This needs to be reformed to introduce a flat rate, broad-based tax for everyone. If I earn 20K, and 10% is tax, I should get 18K. And if the CEO of some industry gets 30 lac as his monthly income, he should pay 3 lac to the government as tax every month. This is only fair. But when you either
1. Introduce tax exemptions or
2.Tax businesses an irrational amount (100, 200, 300%)
then obviously, businesses hire lawyers and teams to find loopholes in government's tax system to evade or avoid taxes. Introduce a fair and flat rate of taxation over a wide base of products. This helps everyone, the government, the people and the industry. The government gets a lot of taxes by increasing the product base. The people are benefitted because they have to pay low tax rates on each single item that they buy. (You buy more items, you pay more tax, simple as that). The industry is benefited by both the low tax rates, and this single tax system also enables more businesses to flourish by reducing or removing the countless tax nets. If I am a businessman who has to pay 50% tax on my income, I'll spend 50% of my time thinking about how can I avoid or evade that obviously cruel tax rate. But if I only have to pay 10% of my company's profit, then I'll pay that fair 10% tax and focus the 90% of my time on my business.
Privatization
Here comes my test lol! With all due respect, my fellow socialist brethren and sisters ... a government is to only govern the environment of a state. It is not to govern the businesses running in the state. Pakistan Steel Mill, Pakistan International Airlines, Pakistan Railways and other such companies are businesses that provide services to their customers. That's it. They are businesses. Do you know there are over 400 such businesses right now, owned by the government of Pakistan itself? They serve as an extra burden on an institution which was supposed to govern other institutions. Get rid of that burden in the third stage of reforming your country, once you have the sincerety and money to do it. Privatize these to the highest bidder. Then govern the nation in such a way that an optimal relation is formed, and maintained, between the customers and the company. PSO, Pakistan Post, PTCL, WAPDA, State life, Ordinance factories, Development Authorities, Banks ... these are government run businesses when these should not be. They are made by the government to reward and rectify whoever they like, while in the government. Realistically, these are businesses. Privatize them and there will be competition in the market to provide the best possible service/product at the lowest possible rate. And bonus: government can actaully focus on governing instead of managing its business companies then too.
This is it for now. Have a nice day. Bye.
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