LONDON: Prominent panelists of the London School of Economics (LSE) Future of Pakistan Conference agreed that Pakistan’s tax regime is riddled with inefficiencies such as withholding taxes and the share of direct taxation needs to increase for the growth of Pakistan’s economy.
The LSE’s Future of Pakistan Conference was hosted virtually by the LSESU Pakistan Development Society and attended by a wide variety of distinguished personalities, including sitting ministers, lawyers, journalists, opposition members as well as other key experts.
The panel on the economy touched upon the issues of taxation, domestic productivity, and the lack of consensus on some key macroeconomic issues. The panelists - Minister for Industries and Production Hammad Azhar, Miftah Ismail and Yousuf Nazar - agreed that the tax regime is riddled with inefficiencies such as withholding taxes and the share of direct taxation needs to increase.
Dr Miftah Ismail said, “I am not particularly gung ho about agricultural tax as farming is not competitive compared to the rest of the world and instead there should be a rigorous property tax in Pakistan.”
Agreeing with Dr Ismail on the agricultural tax, Hammad Azhar added that agricultural income can still be taxed based on different income thresholds.
Economist and commentator Yousuf Nazar argued that the primary reasons behind Pakistan’s stagnant domestic productivity is a lack of spending on human development and the rent-seeking nature of the economy. Hammad Azhar pointed out that there is a “fragile consensus” emerging within the political parties with respect to state bank’s independence and Dr Miftah Ismail agreed, which presents a positive outlook of the monetary policy of Pakistan going ahead.
Minister for Human Rights Shireen Mazari, Barrister Aitzaz Ahsan and legal expert Reema Omer appeared on the first panel. Reema Omer opened with the argument that some human rights are not even an aspiration under the status quo. “From the top, the messaging has been very mixed”, she noted. Dr Mazari responded that the new anti-rape ordinance was cause for optimism. Beyond the law, Barrister Aitzaz Ahsan stressed the importance of not seeing the law in isolation but in the context of societal issues. “We are stuck in a medieval age,” he noted. All panelists agreed that there was a need to create awareness about rights at all levels of society, especially state officials.
Dr Mazari added: “We need to create awareness and I am optimistic. No subject is taboo now. Our Ministry has framed a bill on enforced disappearances. No government has done this before.”
The foreign policy panel consisted of President AJK Sardar Masood Khan, former foreign minister Ms. Hina Rabbani Khar and senior journalist Najam Sethi. The future of Pakistan’s relationship with the USA under the incoming administration, in the particular context of the Afghan peace process and the issue of Kashmir was discussed.
Hina Rabbani Khar stated: “We must give importance to the intra-Afghan dialogue, which is imperative for stability that Pakistan wants in Afghanistan.”
Najam Sethi disagreed and thought that it would not reap any fruitful results, stating that “the unrest will continue and there will not be a stable arrangement - the Taliban will eventually rise to power”.
President Masood Khan, while discussing the Kashmir issue commented: “We need to independently engage with the US on Kashmir, particularly issues of human rights violations.”
Mustafa Yar Hiraj, the President of the LSESU Pakistan Development Society said that the mission of the LSE Future of Pakistan Conference was connecting the minds of tomorrow with the decision and policy makers of today, in the hope of a bright future for Pakistan.
“As Pakistani students studying abroad, I think that it is our duty to use our education, exposure and experience to come back and serve our country to the best of our abilities. We should be confident of our own potential and optimistic about our future, and so should the rest of the world”, he added in his closing remarks.
Awami National Party chief Senator Aimal Wali Khan was first speaker to raise the matter
Information desks have been set up at universities and scholarships will be awarded to students in 68 disciplines
Court further directed that after transfer of the money, the account should be closed
A new notification has been issued by the Establishment Division in this regard
IHC also ordered that relevant officer of interior ministry to appear in person at next hearing
Few candidates appeared for interview before selection board headed by Federal Minister of Science and Technology
