Now is the season for budget (2Ol7-18) exercise. FBR and Ministry of Finance are receiving budget proposals from other ministries and government functionaries to know their financial requirements for budget allocation. FBR by imposing indirect (consumption-based) new taxes on the poor segment of society is trying to improve country's tax-to-GDP ratio.
There is, however, no effort on the part of the government and even on the part of the elected representatives sitting in the parliament to find out ways and means to reduce unnecessary unproductive expenditure being spent on public sector organisations such as Pakistan Steel Mills, PIA, Ogra, PCB and highly politicised BISP where taxpayers' money is mercilessly spent without any benefit to the taxpayers.
The budget exercise is not only a revenue collection exercise but it should also envisage efforts to cut down the wasteful expenditure of the taxpayers' money to reduce the burden of taxes on the common man. It is a food for thought for all of us to think about to improve the budget exercise in the national interest.
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