"Taxophobia"  - Our Present Day hallenge and a hurdle on the Road to Prosperity

Whatever other factors can revamp the outlook of this economic scenario under the circumstances, I am quite sanguine about the steps and measures being taken by the PM and his Financial Team whose vision is crystal clear in making the country a safe haven for indigenous community in general and the FDIs in particular. The government looks quite determined to paving way for congenial business environment in the country though, however, the problem lies with how mass population of the country perceives his vision and mission in the current economic turmoil prevailing in the country. They are seldom concerned about the future. They are more concerned about present when apprehensions prevail about their existence and survival under the deteriorating economic conditions and consistently dying buying power. The dollar price has sky-rocketed which has adversely affected people’s quality of living.  This is a predicament, which the government needs to address very carefully, tactfully and empathetically. The phenomena of “tax evasion” that existed in the preceding regimes for many years, as in many developing countries, has now transformed into “Taxophobia”. Seriously, this is the current dilemma.

Therefore, under the circumstances, besides all the government’s good intentions, there arises a need for re-assuring the business community to stay calm and pay tax that would go a long way in changing the overall economic outlook of the country. I am sure and quite optimistically feel that  the government is well aware of the situation and has concrete plans in this regard for the business communities and public so that they can overcome the fear of paying taxes which requires a bit of patience and smart friendly campaigns rationalizing the importance of paying tax and entering  the tax network. People need to be educated that Welfare is the outcome of Tax Revenues and nothing else. They need to understand that the tax paid by them shall be in safe hands and will transform into Infrastructure and Industry resulting in job creation and prosperity. Apart from such campaigns to create understanding and closeness with business communities, the government must offer some relief and relaxations in tax regulations and offer tax holidays that will not only encourage the local business communities but will also entice the MNEs which is the ultimate need and goal of our struggling economy. This is how the country will Evolve into New Pakistan.