World Bank identifies major flaws in Pakistan Economy
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The World Bank says that those generating electricity from the current system are benefiting significantly.
The Country Director of the World Bank, Najeeb Bin Hussain, addressing a seminar in Islamabad under the title of "Bright Future," stated that Pakistan faces not only human issues but also challenges related to children's mental and physical development. Pakistan should increase taxes on socially harmful items like tobacco.
He mentioned that Pakistan could collect 14 to 15 billion rupees annually instead of the current 7.2 billion rupees. To achieve a 3% increase in the tax rate, taxes should be imposed on real estate and agriculture. Long-term tax collection through GDP can reach 9.6%. Pakistan needs to end tax exemptions for the wealthy class.
Najeeb Bin Hussain emphasized that those generating electricity from the current system are benefiting significantly, while distribution companies incur losses due to inefficiency and mismanagement.
