WHILE I totally understand the frustration of the ruling party in blaming the past rulers for the current mess, it is ironic that the present government is taking the same route. The next government in 2023 would be faced with the same dilemma and would churn out the same rhetoric. This seems to be a vicious cycle in which the common man is the actual, if not the only, loser.
In order to get rid of the menace of foreign borrowings, it is necessary that the relevant authorities should create a balance in revenue inflow and outflow. When our expenditure exceeds the expected revenues, governments resort to both local and international borrowing to meet that shortfall. It is as simple as that.
For generating more revenues and growth in economy, the government needs to strengthen the farming and industrial sectors through various incentives to enhance per acre agriculture yield through the adoption of modern techniques.
This should be done to increase the tax net slowly and rationally, to increase exports through quality products, attractive packaging and labelling by searching new destinations. This way we will be able to avoid unnecessary imports and will be having direct foreign investment so that more job opportunities are created and better inflow of dollar is maintained.
Abdul Samad Samo
Published in Dawn, January 25th, 2022