There is no doubt in anyone's mind that the economy of Pakistan is going from bad to worse. All the experiments from Mehboob-ul-Haq, to Yasin Watto, to Sartaj Aziz, have made lofty claims, but once they are gone, we are left to confront the cold reality that we are in a far worse state than before. I see no reason to believe otherwise, once Mr Shaukat Aziz leaves office. And, guess what, who will be left to lift the ashes once the "imported" financial whizz leaves us and goes back to his "home in USA"?
I have no doubt in my mind that democracy will be restored, not because General saheb wants to restore it, he doesn't; but because he HAS to restore it, due to international pressures. For more than five decades, our financial destiny is controlled by people either elected or selected. All of them have let us down. There is no reason that the current system offers any hope.
This is reason enough, for drastic surgery. Here is a proposal:
"The enormous economic mess prevailing in our country justifies a radical approach. The strings of our national exchequer should, therefore, be restored to their rightful owners. The rightful owners, being the TAX PAYERS of our country. Those who constribute in our national wealth should be made to decide how the amount should be spent. Our elected parliament should continue to be elected the way it does and function the way it does, except that all financial powers be taken from it. The Finance Minister will continue to be an elected parliamentarian, much like he is right now. In addition, there will be "National Economic and Financial Assembly" (NEFA) created. The term for NEFA will be one year. This Assembly will be filled as follows:
1. Top 100 corporate tax payers, appoint one representative each to NEFA.
2. Top 50 inidividual tax-payers will be automatic members of NEFA.
3. Presidents of all chambers of commerce and industries and stock exchanges are automatic members.
4. Remaining 80 members of the assembly will be selected by a random ballot from the database of all the individual tax payers in the country, who have paid taxes greater than Rs 1,000 in the last assessment year.
The total number of the members of NEFA will be 240, the same as our National Assembly and the budget will be presented by the Finance Minister and approved by a simple majority of the NEFA".
This is the proposal, please provide your ideas....
(Only serious replies please)
I have no doubt in my mind that democracy will be restored, not because General saheb wants to restore it, he doesn't; but because he HAS to restore it, due to international pressures. For more than five decades, our financial destiny is controlled by people either elected or selected. All of them have let us down. There is no reason that the current system offers any hope.
This is reason enough, for drastic surgery. Here is a proposal:
"The enormous economic mess prevailing in our country justifies a radical approach. The strings of our national exchequer should, therefore, be restored to their rightful owners. The rightful owners, being the TAX PAYERS of our country. Those who constribute in our national wealth should be made to decide how the amount should be spent. Our elected parliament should continue to be elected the way it does and function the way it does, except that all financial powers be taken from it. The Finance Minister will continue to be an elected parliamentarian, much like he is right now. In addition, there will be "National Economic and Financial Assembly" (NEFA) created. The term for NEFA will be one year. This Assembly will be filled as follows:
1. Top 100 corporate tax payers, appoint one representative each to NEFA.
2. Top 50 inidividual tax-payers will be automatic members of NEFA.
3. Presidents of all chambers of commerce and industries and stock exchanges are automatic members.
4. Remaining 80 members of the assembly will be selected by a random ballot from the database of all the individual tax payers in the country, who have paid taxes greater than Rs 1,000 in the last assessment year.
The total number of the members of NEFA will be 240, the same as our National Assembly and the budget will be presented by the Finance Minister and approved by a simple majority of the NEFA".
This is the proposal, please provide your ideas....
(Only serious replies please)
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