Formalizing the Informal Economy of Pakistan I میری دکان پر نظر کیوں؟
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- čas přidán 4. 06. 2024
- There are number of myths about informal economy including that it is black, evil and a waste. The informal economy is a competitive economy where the market actually works. Given the onerous regulations and poorly thought out and predatory tax system, these entrepreneurs are taking the approach of avoiding the officialdom.
Instead of framing the problem in these antagonist terms, we should try and figure out how is it that we can make the state trustworthy for all citizens and all markets.
- How can we transform the predatory regulatory and tax system to be
accommodative of all markets - both formal and informal?
- Small businesses should be facilitated to become a part of the formal
economy, by easing out their regulation, their taxation, their ability to
digitize, their ability to gain space easily. They must be allowed to grow into
corporations and eventually even listed companies on the stock exchange.
- The wholesale and retail sectors are clearly visible in their business practices, yet they are maligned on their tax payment.
- Is it because they are reluctant to do the right thing or is it because they are facilitated in their endeavors? If the latter becomes a matter of poor tax policy and administration. Instead of vilifying them, there is the need for deep policy and tax administration reform as suggested by PIDE.
Street and small vendors are frequently vilified by policy and administration
with their businesses disrupted. Not only is this a tax, but also forces them to hide. Once again, this is the fault of policy and the administration.
Documentation is a myth that the government and donors/lenders have
been pushing for a long time. With the ID card and numerous papers and
affidavits that are produced, considerable documentation has taken place.
The problem is the state own unwillingness to use data analytics and data
systems as well as digitization to adequately link the documentation of
every individual that is taking place.
- We have been hearing about points of sale systems for decades now. What is holding it back is very hard to understand?
- The FBR system of refunds is still not electronic and there are numerous
funds that are clogged in the system and thus system loses trust.
#Pakistan #Economy #Taxes #InformalEconomy #digitization #documentation #regulations #Filers #NonFilers #TaxBurden #IMF #Economy #IMFProgram #Politics #Investment #Loan #Debt #PIDE #society #EconFest #EconFest2024
Panelist:
SYED MOHAMMAD SHABBAR ZAIDI
Former Chairman, Federal Board of Revenue of Pakistan
SYED ASAD ALI SHAH
Former Advisor to Chief Minister, Government of Sindh
FASEEH ULLAH KHAN
Managing Director, Crunchies & Pizzakone/ Senior Vice President, Traders
Welfare Association
OMER SIDDIQUE (Moderator)
Senior Research Economist, Pakistan Institute of Development Economics
For Further Details Please Visit:
@PIDEOfficial
www.pide.org.pk
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Shabbar Zaidi is legend.. He should be Finance Minister
شبر زیدی صاحب۔۔أپ کو سن کر ہمیشہ اچھا لگتا ہے۔❤
shabbar sb. talks really hard and but truth and knows ground reality where problem exist and how to resolve it. He deserve to be fbr chairman but....pakistani awam issues....
Jo seminars hotay hai un k main main points written main honey chaheyay. PIDE ko ye publish karna chaheyay.
Shukreya
Shabar zaidii is all time favorite
Shabbar Zaidi sir is right. ❤️
Govt. back international marketing department should be efficient and results oriented.
Please keep a timer or alarm for the speaker , so that they are time conscious.
I wasn't aware?
My Goodness Shop Act? Seed Act Fertilizer Act? Etc...
Port Qasim export zone required to export cement, sugar,, rice & flour and textiles . Port City always be competable for export market.
Shabbar Sb is such a sane voice and equally vocal as well!
Dr Hafeez Pasha!
Formal Documented Economy.
Don't keep the books except speed monoey chickbacs and sewa etc
Max taxes goes to corrupt politicians internationally that's why people are very much interested to become politicians.
🎉 it seems the biggest reform is needed in FBR itself.
Sometimes I think we should bring subject matter expert managers from Japan, S.Korea, Chima, Europe, US and handover different pakistan state departments to them because pakistani beureaucrats and secretaries are so incompetent and inept they cannot manage things.
Or may be all new parallel institutions should be built with fresh workforce, with a foreign expert as head of institution and scrap all old institutions along with its workforce like police, fbr, customs, judiciary, civil service, etc etc etc.
Without port City industrial effectiveness to boost export Pakistan will be on the same decreased export target and trade deficit .
The more regulations they put the harder it is to do business and the more room there is for corruption
If you can't develop and use of Port City industrial you will not compete the world market. Industrial electricity can be reduced substantially but the UK Bengal tigers is not agree to do.
My goodness 118 authorities in a single city.
اندازہ ہوا کہ ہمارے یہ ایکسپرٹ سوائے باتیں کرنے کے کچھ نہیں جانتے نہ ہی کوئی اچھی تجویز نہ ہی کوئی نتیجہ نہ ہی کوئی راستہ۔۔۔۔۔
UK Bengal tiger's strategy is to increased inflation, no savings obviously no economic activity let them poor marginalized.
Harassment of Tax Authorities of all type is aa major cause that people avoid documentation0
FBR collects Advance Income Tax on property transactions and challan of these tax collection is in record with FBR why they do not send notice to these persons and ask them to file return
You never go for self reliance, freemason is spending Dollars to reduce production is an open secrets. You have spend more on import how Pakistan will survive without the sustainable exports drive and world marketing.
why we pay taxes please justify the question
The bald man is a little darker version of nawaz sharif😅 im talking about the trader union man
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Lahore or Islamabad? @@PIDEOfficial
Main culprit of Pakistan economy is redtapizium. And political parties .zaidi sahab itne simple way me baata rehe hain. Likin in ke samaj me nahi aa rah hai
Otherwise the rate of development of India make the gap so wide , that you will be one day a century behind India
already 20 years behind and falling behind 2-3 every year
I have watched 37 shows of PIDE. My observations: talks are too generic in nature, level of discussion is poor, knowledge of experts is not of world class standard, at times I het the impression that quite a few of panelists are not sincere. If thought process is not genuine and people are not truthful the plight of common man is Pakistan is not going to improve. I have a number of friends from Pakistan here in Canada and they believe unless their education system is improved they would continue to look everything from religious angle and would continue to spiral downwards on human index. I pray Bhagwan help the poor Pakistanis.
It's impossible to do anything in Pakistan till the Pakistani army is there. They will always be the trouble maker in any reforms.
Discussion ka koi solution nae nkla...
If you neglect the importance of Karachi Pakistan will not progress.
As usual, no concrete steps suggested by "expert" to move forward. All verbosity alas.
شبر صاحب شائد صرف باتوں کے گرو ہیں
shabbar zaidi always speaks half baked truth! i am sorry, i see no wisdom in his arugments
het = have
Shabbar Zaidi can only blame others he thinks of himself as an angel
Shabbar zaidi Pakistani ne lagta , Muslaman lagta hn :) Sach bolna sy Pakistani nationality cancel ho jati hn.
نذر چوہان کو بولا کر پوچھیں سب سچ سامنے آ جائے گا
شبر صاحب شائد صرف باتوں کے گرو ہیں