Daily Times

Sir: What a coincidence that weeks before yet another amnesty scheme is to be announced to facilitate tax evaders and beneficiaries of black economy, the Pakistani rupee which was trading in inter-bank market at Rs110.6 at close of Monday 19 March suddenly goes into a free fall as high as Rs 118 to stabilize at Rs115 by 20 March.

There is no rocket science involved in collecting garbage in Karachi but the choice is between transferring funds to Dubai or spending them in Karachi. The FBR bureaucracy may end up with far less tax returns for financial year 2017 (1.32 Million) as compared to 2016, but they enjoy all perks and benefits, including promotions and allotment of plots in numerous housing societies spread all over the country. Funds are available for Mega Projects because of kickbacks and commissions but not for education, health or providing clean drinking water.

In a country where imports exceed exports by almost double and tax revenue collection falls below earnings and profits earned by land developers and traders, which is evidenced by size of black economy, debts have to be taken to fill widening deficit between Tax to GDP. Like the Pakistani rupee in a planned free fall, the documented economy is also tumbling down. This gives credence to conspiracy theory that International community and known World Powers who want to denuclearize Pakistan have exploited insatiable greed of few to drive it to bankruptcy like that which grips Greece or Venezuela etc so as to achieve their objective. God Almighty hopefully we realize what is happening.

GULL ZAMAN

Peshawar

Published in Daily Times, March 24^th 2018.