Are we tax filers idiots? The answer is in the affirmative. Business Recorder op-ed writer Ikram Sehgal has advanced a fascinating argument in his last op-ed for the newspaper in this regard. According to him, for example, "the lifting of curbs on non-filers of tax returns allowing them to purchase vehicles and property exceeding Rs 4 million triggered widespread disagreement and debate. Imposed (to their credit) by the previous PML(N) government led by PM Shahid Khaqan Abbasi during its last budget, it prompted car manufacturers and real estate dealers/developers to rise up in arms complaining that the decision brought about a sharp decline in vehicle sales between 20% to 50% while sales of property was also affected. The reality, well beyond the reach of even the upper middle class, car and property prices actually declined. The government's decision runs contrary to the PTI's stated aim of bringing more people into the tax net. By lifting the ban the government has given non-filers a carte blanche to make hay by bringing them at par with tax filers' incentives."
It has increasingly appeared that the PTI government is lacking a roadmap with regard to country's economy. The mini-budget presented by finance minister Asad Umar only betrays government's lack of experience and sense of anticipation. Although it has been blaming the last PML-N government, and rightly so, for the present economic challenges day in, day out, it still appears to be indecisive whether or not the country should formally approach the International Monetary Fund for a bailout. What does the finance minister actually mean when he says that the government is not seeking an IMF bailout "just as yet"?