'Tax havens'

This is apropos a Business Recorder op-ed "Tax havens" carried by the newspaper sometime ago. The writer, Farhat Ali, has argued, among other things, that "it is estimated that annually an amount of one trillion dollars flows from poorer developing countries to richer capitals and tax havens across the globe.

This abominable phenomenon deprives the people of developing countries the right of building a better tomorrow. The leadership of many of the rich countries have been turning a blind eye to the plight of under-developed and developing economies." The writer is spot on. I cannot agree more. Similarly, prime minister of Pakistan Imran Khan's argument that he could reduce the prices of all essential items by half if the Sharifs and Zardari families bring back the money that they have parked in safe havens abroad is equally plausible.

Naushad Mohtaram (Karachi)

Copyright Business Recorder, 2021