As we all know that Pakistan is going through the financial crisis from years. Every government came in power had to approach the International Monetary Fund (IMF) in order to stabilize the economy of the country.
According to the Prime Minister of Pakistan Imran Khan, the previous governments of Pakistan took a huge amount of loan from IMF as well as from other friendly countries. As the premier always used to say that till the last government of Pakistan Muslim League-Nawaz (PML-N), the total loan on Pakistan has reached up to twenty-eight thousand billion rupees.
I heard several people saying that if Imran Khan is honest enough to prevent the corruption and money laundering from the country then where the money has gone which he saved by preventing the corrupt practices?
According to the details shared by the Prime Minister of Pakistan Imran Khan, the PTI-led federal government of Pakistan has to pay 6 billion rupees daily in the respect of interest on the loan the previous governments took from the international community.
If we calculate the amount on a monthly basis, the government of Pakistan is currently paying 180 billion rupees monthly only in interest on the loans.
One of the best ways for the government to generate the revenue inside from the country is to bring the people into the tax net. In the light of generating revenue, Imran-led government of Pakistan has achieved a milestone and more than 700,000 new taxpayers have filed their tax returns in the period of just one year.
It is pertinent to mention here that the number of taxpayers in Pakistan rose by 700,000 to a total of 2.154 million. The details further said that the out of the total, 700,000 are salaried people.
Besides the salaried people, the government further asked the businessmen across the country to regularize their businesses and register themselves with the government so the government can easily identify the people are earning millions of rupees and are not paying a rupee in the respect of tax.
Most of the businessmen across Pakistan have staged a protest against the decision of the government but PM Khan stood by its decision and asked the protestors that you can do whatever you have to but in the end, you all will have to register yourselves with the government.
The main thing that we need to understand is that if a person who is earning 50 thousand a month is paying the income tax then why the people who are earning millions of rupees are exempted from it?