INSUBCONTINENT EXCLUSIVE:
look at its policy decisions driven by strong vested interests of military, political and business leaders, as per the World Bank.The
warning by the financial institution comes ahead of the new election cycle so that the upcoming government can make early choices.The World
Bank has asked Pakistan to tax its agriculture and real estate to achieve economic stability through steep fiscal adjustment of over seven
per cent of the size of the economy, as per Pakistan-based The Express Tribune newspaper.The lender on Friday also revealed that poverty in
Pakistan shot up to 39.4 per cent as of last fiscal year with 12.5 million more people falling into the trap due to poor economic conditions
About 95 million Pakistanis now live in poverty.The Washington-based lender unveiled the draft policy notes that it prepared with the help
of all stakeholders for the next government.The lender identified low human development, unsustainable fiscal situation, over-regulated
private sector, agriculture and energy sectors as the priority areas for reforms for the next government.The World Bank proposed measures
that immediately increase the tax-to-GDP ratio by five per cent and cut expenditures by about 2.7 per cent of GDP, aimed at putting the
Haque said the bank is deeply concerned about the economic situation of today.Pakistan is facing serious economic and human development
host of measures to improve the revenue-to-GDP ratio by five per cent through the withdrawal of tax exemptions and increasing the burden of
