The World Bank says Pakistan should freeze senior and middle-level government recruitment and salaries, reduce government staff meetings, travel spending and petrol consumption.
The World Bank released a report on Pakistan’s recent economic development and concerns, recommending that the government stop buying vehicles, end subsidies and loans to public sector enterprises.
According to the report, Pakistan can achieve sustainable growth through economic reforms.
The World Bank says that traditional regressive subsidies should be reduced, electricity subsidies should be abolished, targeted electricity subsidies should be improved to reduce costs.
The report said to provide cash subsidy for gas, eliminate or reduce petroleum subsidy through Benazir Income Support and National, Social, Economic Registry.
Similarly remove tube well subsidy, it encourages wasteful consumption, wheat support price subsidy benefits big landowners.
The World Bank says the government’s single treasury account will reduce borrowing and interest costs, save government staff and reduce operational costs.
Phase out ministries devolved to provinces after the 18th Amendment, raise wages modestly at grassroots levels as needed.
In the report, it was said to eliminate loss-making public institutions, improve governance in public institutions, and reduce pension costs through reforms.
The World Bank said to reduce sales tax exemptions, abolish the Eighth Schedule of the Sales Tax Act and impose equal rates on all items.
The World Bank says that the zero-rating list should be reserved for the export sector, and the exemption of duties on imports should be abolished.
Implement a premium excise rate on cigarettes by unifying the two tiers of excise duty.
Unify the tax schedule of salaried and non-salaried classes, simplify the personal income tax structure.
The World Bank report added that taxes on property and agriculture should be increased and improved or new taxes imposed.
setTimeout(function(){
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window,document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘836181349842357’);
fbq(‘track’, ‘PageView’);
}, 6000);
/*setTimeout(function(){
(function (d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s);
js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.11&appId=580305968816694”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
}, 4000);*/