Pakistan economy in revenue generation crisis

Despite recent optimism surrounding Pakistan’s economy, the country is facing an “existential crisis” stemming from its woeful tax collection rates and inability to finance itself, a report said Wednesday.

Pakistan’s economy grew at 4.24 percent during the 2014-2015 fiscal year with per capita income rising a significant 9.25 percent, markers that come as investor confidence in the long-underperfoming South Asian giant have also increased.

But according to the report by non-profit organisation Raftar, funded by Britain’s Department for International Development (DFID), Pakistan’s economy continues to rely heavily on “commercial loans, concessionary donor loans and aid”.

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Source Credits: AFP

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