5 Point Economic Plan
Yousuf Nazar @YousufNazar on Twitter discusses his 5 point economic plan:
#1. Increase gasoline prices, remove tax exemptions/subsidies (for Rs800 billion) for the corporate sector immediately and get $10bn from the IMF.
#2. Impose a financial emergency [Article 235(1)] and ask the provinces to collect at least Rs100bn through higher taxes on land and property.
#3. Impose a special emergency tax of Rs.500,000 on vehicles of 1600cc or more. This can bring in at least Rs20bn. Double the electricity tariff on residential properties of 800 sq yards or more.
#4. Downsize the federal govt and abolish/downsize all those divisions that handle subjects that have been transferred to the provincial governments. This can bring in Rs30bn. Cut non-combat defense spending by Rs.100bn.
#5. Ban ALL land allotments and make it mandatory to sell the state land by public auction only and launch a privatization program to create an investment-friendly environment.
Political economy is Mr. Nazar’s primary interest. He’s ex-Equity Investments Head, Ex-EM Strategist Citigroup and uthor of http://amazon.co.uk/gp/aw/d/B007HK
COMMENTS by Najam [email protected]: Add inheritance tax, gift tax, death duties, demonetization of 5000 rupee note, increase lease rents of govt property to market rates, sell off elite housing estates of bureaucrats, judges, etc. like GOR, Mayo Gardens, etc.; shift golf courses from prime urban land on low rent, etc.