IT seems there is no light at the end of the tunnel. We face an economic crisis of gigantic proportions and from the government to the common man, everyone is looking for a remedy, but nothing is in sight. The country continues to hope somebody will rise to the occasion, but that doesn’t happen.

Right now, inflation is the black hole swallowing all the hard-earned money of hardworking and honest countrymen. Pakistani currency has lost its power, and prices of essential commodities go up almost on a weekly basis, if not daily. Being the biggest stakeholder of the country, the foremost responsibility lies on the shoulder of the government to pull the country out of this situation.

To overcome this bleak scenario, I would suggest establishing a ‘Country Fund’ immediately under the supervision of the Supreme Court. As an initiative and trust-building measure, top landlords and industrialists-cum-politicians should donate one-fourth of their wealth to the proposed fund.

Overseas Pakistanis may also be urged to generously donate to that fund. Imported food items, garments, tobacco etc., should be taxed an extra 50 per cent and the amount should go directly to the fund. Landlords having 500 or more square yards may be brought into the net and made to pay 10pc extra property tax which should also go to the fund.

Those among the salaried people earning Rs300,000 or more in monthly salary should be asked to pay an extra 5pc income tax, and the additional amount should go to the fund. Finally, the business community should be taxed according to the volume of their business turnout.

There is always room for improvement in the quality of the proposal. I do hope that some sane voices will contribute to giving a better structure to the proposal.

Dr Syed Qamar Abbas
Karachi

Published in Dawn, May 24th, 2022