Economy

Constitutional Provisions

Article 37(a) The State shall promote, argumentative research paper examplewith special care, the educational and economic interests of backward classes or areas;
Article 37(c): The state shall make technical and professional education generally available…
Article 37(f) The State shall enable tcustom writing servicehe people of different areas, through education, training, agricultural and industrial development and other methods, to participate fully in all forms of national activities…;
Article 38(a) The State shall secure the well-being of the people…by raising their standard of living, by preventing the concentration of wealth and means of production and distribution in the hands of a few…;
Article 38(b) The state shall provide for all citizens, within the available resources of the country, facilities for work and adequate livelihood with reasonable rest and leisure;
Article 38(b) The State shall reduce disparity in the income and earnings of individuals…;
Article 38(f) The State shall eliminate riba as early as possible…;

Proposed Way Forward

A. Taxation
Simple revenue-based taxation be applied – 2.5% of assets or average annual daily stock, 5% of agriculture production on irrigated lands, 10% of revenue on services or production and 20% of revenue on real estate and other windfall gains without any substantial effort such as land owners having minerals, oil explored from their owned land etc.
Tax payer’s money to be spent only on generation of national income and provision of basic facilities. National income comprises of foreign remittances by oversees workers and foreign exchange earnings through exports. Basic facilities include Education, Health, Food, Clothing Housing and transport. Import of essential materials and equipment not manufactured in Pakistan be allowed only. All foreign currency, gold, diamond be deposited with state against local currency. All grey, black, undeclared wealth be brought into economy within 100 days against 20% of same to State. All local currency be swapped with currency notes not more than Rs.100. Conservation of energy and solar generation be prioritized.
B. Income
Pakistan’s national income comprises of two main sectors.

  • Remittances
    Oversees workers contribute annually $20 billion as remittances to our foreign exchange. We need to invest in these potential oversees workers by imparting vocational training and technical education of international standards to them. For this purpose polytechnic universities and entrepreneurial development centers to be created in each districts.
  • Exports
    Our foreign exchange earnings through exports are around $20 billion, which are contributed by both industry and agriculture.
  • Industry
    Special Export Zones be created in each district with uninterrupted At Cost supply of natural gas and power to industry in such zones. Only new/re-engineered industrial plants be allowed there with all output for export only. State shall provide free developed land, 10% matching grant against 15% equity by the sponsor and state guarantee for 75% investment of people in such projects. The sponsor shall have the management control against its 25% share (15% equity + 10% government grant). Domestic and other gas users will be provided LNG in place of local natural gas. Conservation of energy and solar generation be prioritized.
  • Agriculture
    Farmer be provided all inputs and rental equipment at his choice without any payment through banks counter guaranteed by State from Agri Centers established at County level and the cost be charged out of the produce with farmer to receive balance payment again at Agri Centers. Flood Irrigation be substantially replaced in five years with modern irrigation methods to save water. Water use from rivers to be rationalized based on requirements instead of quotas.
    No restriction in the name of licensing on agro based industry such as sugar, wheat, corn etc. Only regions be fixed with every person allowed. Green house estates be developed and value added agriculture with export potential be given top priority. Farmers Markets in Urban centers be established.

C. Infrastructure Development
State not to develop or operate public services such as electricity, oil, gas, roads, airline, railway etc. but to regulate only. All infrastructure development and operation of Public Sector Enterprises be carried out without tax money on PPP or other model such as revenue generation, surcharge application, cross subsidies, O&M, user’s fee etc. Private sectors to have priority investment against project collaterals and state counter guarantees in preferred sectors.