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"IMF ka jo Loan Milega Filhal Diwaliya Hone Say to Bach Gaye Laikn..." Farhan Bukhari's Analysis
#pakistandefaultrisk
"IMF ka jo Loan Milega Filhal Diwaliya Hone Say to Bach Gaye Laikn..." Farhan Bukhari's Analysis
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00:00Mr. Bukhari, if you have any comments or questions, we will discuss them later.
00:08But Farhan Bhai has said a very good thing. If you, me, or Farhan Bhai write any article on any other economy, we will say that these reforms should be done by us.
00:19If the IMF has introduced so many points in its intro, if we are sincere to the country, then we should do it.
00:28We should impose taxes. We should do all these reforms.
00:31And this way we can move forward instead of someone coming from outside and doing it.
00:34Mr. Chaudhary, you can ask your question.
00:36No, Mr. Farhan Bukhari, you can say that people should have taken the loan from the IMF, they should not have taken it.
00:43If they had not taken the package, if they had not dealt with them, then the journey from the bottom would not have stopped.
00:50As a result of this achievement by this government, let's put it like this.
00:55Pakistan's economy will generate economic activity.
01:04There will be an increase in GDP.
01:07The people of Pakistan will be happy.
01:10Pakistan will be able to achieve a better position in the world community of nations in terms of improving its people's condition.
01:22And this loan which has been taken to repay the loans already taken, which is my understanding,
01:29then what is the benefit or loss of this loan?
01:34Thank you very much, Mr. Chaudhary.
01:35Look, on the one hand, as I said, you are safe from Diwali.
01:40And it is true that the loan you will get from the IMF is about 2 billion dollars a year.
01:45Austin is 7 billion dollars in 3 years.
01:48As a result of this, you will be more indebted.
01:50You will take loans from other places and repay your loans.
01:54So you have not shot a very big arrow to this extent, except that you are safe from Diwali.
02:01The real problem is that now you will reform your economy.
02:05And what will you do or not do?
02:07Because in the past, there is a long story of the Pakistani governments.
02:11Various governments have made promises and then made promises on the inter-governmental level, from inter-governmental institutions.
02:17So now if you want to change your direction, then you need to change a lot of things internally.
02:24There is a need to change for the betterment of Pakistan.
02:26For example, in recent weeks, in recent months, and I am not giving a political statement at all.
02:33I want to emphasize this.
02:35This is not a political statement.
02:37If any government does this kind of work, I would criticize it.
02:40What kind of controversial things are happening?
02:43In the last few days, we have heard that a high-speed train from Rawalpindi to Lahore,
02:47which will take passengers from one place to another in less than two hours,
02:52and how much money will be spent on it, that is a long calculation.
02:56In Punjab, there is talk of five expressways worth more than 300 billion rupees.
03:04And the most interesting thing is that from Rawalpindi to Murree,
03:08a train will be run whose roof and walls will be made of glass so that people sitting inside can see the outside view.
03:17This is a wrong way for the country because you will be more dependent.
03:22And as a result of such projects, it cannot be said that your economy will get that support,
03:30the growth potential will be better, so that you do not go to the 25th program after the 24th program.
03:40Now you need to work seriously and revive the economic growth rate in the country.
03:49Your private economy, which has been mentioned that there is no room for it due to the support price,
03:56but the support price of wheat, which was suddenly abolished by the Punjab government this year,
04:02was abolished before the IMF program.
04:04It was announced that the price of wheat was 4,000 paise, and then wheat was sold for 2,500-3,500 paise.
04:13As a result, the farmer has been so dependent on you that he is still giving you loans.
04:19Such a situation will not be possible in the future.
04:26But apart from that, you have to take care of your private economy, you have to support it,
04:33because the prices of goods and commodities in Pakistan have increased badly in the past 7-8 years.
04:41And it was before that too, but this year, if you look at the data, the prices have increased so much.
04:47The biggest question mark on us is that our tax to GDP ratio is very decimal.
04:59We are behind 9 or 9.10.
05:03Why are we not increasing our tax net?
05:09The population of the country is increasing, we are seeing that the business has also increased over the years.
05:15But the IMF wants money back.
05:19They can see that the government has no means of earning money in Pakistan.
05:23Mr. Khawar, you can add to this.
05:25Yes, I will add.
05:26The price of gas, you have added these things to the charges.
05:31Why don't we have any information that those sectors that are not in the tax net should be brought into the tax net?
05:37Mr. Chaudhary, do you want to ask a question about this or do you want to separate it?
05:41I will add it to the IMF package.
05:45You can come, Mr. Bukhari is still with us.
05:47Look, there can be many answers to this question.
05:50It can be discussed in detail, but the basic disease is the same.
05:54And it has been going on for years.
05:56That is the loss of your goodwill.
05:59In every government, when it comes to tax reforms, especially tax on income, increasing the tax net,
06:07we have come to know that the government has seen such groups that have blocked the process of reforms.
06:19And as a result, reforms could not be made.
06:23There are some sectors that are exempt,
06:25but there are some sectors that are written in the paper that they should be taxed,
06:31but they do not pay tax or pay much less than their responsibility.
06:39At the moment, it is said about business and industry sectors that there is a large-scale evasion, i.e. tax theft.
06:48Although they should be taxed according to the law, they are in the tax net, but people do not pay.
06:54Mr. Chaudhary, when did you hear that there have been arrests in Pakistan as a result of not paying tax on a large scale?
07:02In America, in the last century, the biggest scoundrel was Al Capone.
07:07Yes, he was caught for tax evasion.
07:09He was caught for tax evasion.
07:11In America, it was said that you can get away with a murder, but if there is tax evasion,
07:15then you have to suffer generation after generation.
07:19Mr. Chaudhary, ask a question.
07:22Mr. Farhan and Mr. Khawar, tell me that we have heard that whichever country has come,
07:28has taken the package of IMF, its economy has not risen, there is only pain in the swamp.
07:33Is it correct?
07:34Mr. Chaudhary, this is one thought and there are many evidences behind it,
07:39but ultimately you have to accept that the countries that have been expropriated or those who have taken loans,
07:47then they also have some responsibilities.
07:49The leaders and leaders there also have some responsibilities to fulfill their responsibilities,
07:54to increase the limit of their country to the other side, to take it towards improvement.
07:58So this is not just one aspect of it that if you get a loan from IMF or take a loan,
08:05then it is definitely a path of destruction.
08:07Its consequence is also dependent on that country and the rulers there,