World Bank: The World Bank has warned that 1.25 crore people have fallen below the poverty line (BPL) in a year. After this, the BPL population has increased to 9.5 crores. The situation is getting worse. There is a need to take immediate steps to stop this.
The World Bank has asked Pakistan to impose taxes on agriculture and real estate and cut wasteful expenditures.
According to a news article in the Express Tribune newspaper, the World Bank on Friday prepared a draft policy for the next government of Pakistan. In this, information related to the economic situation of Pakistan was given.
A World Bank official said- Pakistan’s economic model is not able to reduce poverty. The standard of living here is also falling compared to peer countries. The World Bank suggested that the tax-to-GDP ratio should be immediately increased to 5% and expenditure should be reduced to about 2.7% of GDP. With this, the unstable economy can be brought back on track.
Apart from this, the World Bank has also suggested measures to increase government revenue. The World Bank said the tax exemption could be withdrawn for a 5% improvement in the revenue-to-GDP ratio. Apart from this, taxes can also be increased in the real estate and agricultural sectors.
The situation is bad due to inflation in Pakistan. Here the price of petrol increased by Pakistani rupees 26.02 to Rs 331.38. While high-speed diesel increased by Rs 17.34 to reach Pakistani rupee 329.18.
According to Pakistani media Dawn, in the last month the prices of petrol and diesel have increased by about Rs 58.43 and Rs 55.83. In fact, the inflation rate increased by more than 27.4 percent in August, after which petroleum prices have increased. General prices are also likely to increase in the coming days.