ISLAMABAD, Jun 7 (APP): Senior economist and public policy expert Dr Khaqan Najeeb on Friday emphasised an urgent need for comprehensive economic reforms to secure long-lasting benefits for Pakistan’s economy.
Speaking to a private news channel, Dr Najeeb said that focusing on structural economic reforms was essential for navigating the current crisis and achieving sustainable progress. He pointed out that while International Monetary Fund (IMF) engagement provides short-term stability and it does not address the fundamental issues of the economy.
He called for comprehensive economic and administrative reforms, including pension reforms and a critical review of subsidies in various sectors. He stressed the importance of widening the tax net and reducing wasteful government expenditures on inefficient state-owned enterprises.
He said that to improve revenue performance by reducing subsidies and expanding the tax base to include adequate taxation of land, assets and environmentally damaging activities was needed. “Incorporating property owners, large traders, and landowners into the tax net has become imperative,” he added.
Dr Najeeb praised the efforts of the Special Investment Facilitation Council (SIFC) but stressed that these efforts need to be accelerated. He urged the government to identify and promote promising projects to attract more foreign investment.
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