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Dr Khalil Ahmed a leading economist has stressed upon increased privatisation, lesser taxes, abolishing of income tax, reduction of tax rate for enhancing country's economy.
While speaking at one-day seminar on 'National Crises' held under the auspices of Liberal Forum Pakistan (LFP) here on Wednesday, Khalil said that free trade should be held between countries as well as provinces.
Referring to heavy taxation, he stated that it diminishes incentives in an economy. 'Independent judiciary, less regulatory hurdles, eradication of subsidies are basic requirements to boost economy of a country', he added.
Bilal Chaudhry, a member of LFP expressing his views on the occasion dubbed over regulation as a very bad form of protectionism for economy of the country.
'Where there is efficient private sector, it is seen that resource capacity is more in that economy', he added. Quoting example of textile industry, he said that experiment of over regulation had been a failure in the country. 'Due to protectionism, consumer has suffered in the country', he added.
'If an uneven relation existed between state and citizen, governance and ultimately tax system suffers there. In order to improve economy, democratic traditions as well as law and order situation need to be elevated', he pointed.
Ayesha Bazdar screened her documentary 'Roze-e-Qiza' showing atomic holocaust in aftermath of nuclear attack on Hiroshima and Nagasaki by Americans in Japan during World War-II.
Dr Sajjad Naseer in session on 'Political culture and systems of Pakistan' stated that people here have sometimes acted in influence of dictatorial trends prevalent in our system.
Abbas Qureshi said that US policies were never permanent and subject to vested interest. Israr Kisana averred that we should not be apologetic for being Muslim.
Referring further to Pak foreign policy, he said that it was reactive and not proactive.

Copyright Business Recorder, 2004

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