Literacy declines by 2 pcJune 15, 2015
KARACHI: Senate should be granted a major role in the budget legislation and proceedings. As per the social and economic survey report 2013-2014, the literacy rate of Pakistan declined from 60 percent to 58 percent. Corporate sector is highly involved in tax evasion as only 23,000 out of 65,000 companies in Pakistan file tax returns.
These views were expressed by renowned economist, former Vice Chancellor of KU Dr Hafeez Ahmed Pasha while delivering his address at the workshop on “Provincial Budgets of Pakistan” at AERC, University of Karachi.
The workshop was attended by Dean Faculty of Social Sciences Dr Moonis Ahmar presided the session while Dr. Samina Khalil and Mrs. Nighat Bilgrami were also present.
Dr Hafeez said 18th amendment was a landmark in the transfer of financial authorities to the provincial governments and the abolition of the concurrent list. Pakistan would not have been disintegrated if this thing had been done in 1960’s.
He further added that provincial governments are spending on the development sector more than the federal government.
He said more than 1 trillion rupees have been spent in defence sector this year.
Dr said minimum import duty has been imposed on duty free items like food which is giving a boost to the inflation rate. The government has overburdened the common man with indirect taxes, he added. At the conclusion of event Dr. Moonis distributed the shield to the guest speaker.