Other measures, including the introduction of remittance cards, are necessary to bring in dollars

KARACHI: Pakistan's long-standing problems are becoming more apparent day by day and perhaps the most basic of them is that we are not earning enough dollars to pay our import bill.

Former Deputy Governor of State Bank of Pakistan and Hardul Aziz Murtaza Syed regularly informs the public about these issues through his writings in the hope that the policy makers may also pay some attention to it. The main point they highlight is that our costs are greater than the sources that need to be reduced.

Naya Pakistan Certificate, the rate of interest associated with this certificate whether in rupees or dollars has been delayed more than usual in revaluing it. At present, the profit rate of local treasury bills is touching the limit of 20 percent, while the profit rate of Naya Pakistan Certificate is stuck at 15 percent.

Similarly, the re-evaluation of dollar returns for Naya Pakistan Certificates was also taken up after a considerable delay, but even then it needs to be reconsidered keeping in view the current global market dynamics. Recently, Egypt received a global loan at 11 percent because their credit rating is better than ours at the moment.

There is no harm in this if we can get loans from overseas Pakistanis at 9-10% rate. Loyalty Remittance Card: Credit and other incentives should be announced for overseas Pakistanis who send a significant amount of money to the country. Apart from this, additional tax deduction incentives of 2 to 3 percent in proportion to the volume of money should also be offered.

IT Exports Relentless efforts are needed by the government agencies in this regard to increase the information technology exports. Our current education system is not capable of producing quality IT professionals.

Increase in domestic tourism, overseas Pakistanis who want to come to Pakistan for tourism should be given tax exemption on hotel bookings, taxi fares and shopping etc. to promote this sector.

In less than a year, the rupee has depreciated from 170 to 290 against the dollar, which has resulted in a gap in the purchasing power of a large number of middle-class people, and with it the tendency to vacation or travel abroad. I have also decreased.

Establishment of modern industrial centers; Recently, Foxconn has announced an investment of 19 billion dollars in India, after which the major semiconductor manufacturers of China and Taiwan have turned to India, in addition to this, Apple has also recently invested 100,000,000 in India. New jobs have been announced.

Circular Skill Programme

Pakistanis who have studied abroad and are working there should be given tax incentives if they come back to Pakistan and work and if they want to do business in Pakistan they should be encouraged so that Pakistan The best manpower can be made available in the form of trained people with global capabilities. Pakistani teachers and academics who are associated with universities abroad should be immediately recalled to Pakistan on good salaries.