Islamabad: Pakistan’s Leading Businessman and Top Taxpayer, Muhammad Tariq Rafi, Chairman of Siddique Sons Limited, Has Said that the country lost an estimated $ 300 Billion due to delays in Critical Decision-Making, leading to the external debt crisis of $ 120 Billion that pakistan faces Today.
In an exclusive interview after being nominated for the price of the main taxpayers for the third consecutive period, Rafi said that if major projects like Thar Coal, Reko Diq and the construction of a large dam had been launched in the 1990s and Completed in 2000, Pakistan from Pakistan The exchange reserves could have reached $ 300 billion.
“Reservations of Reko Diq were discovered in the 1990s. If the project had been developed in time, it would have saved the country $ 5 billion a year and generated $ 125 billion in the past 25 years” , he said.
Likewise, he said that Thar Coal could have saved $ 4 to 5 billion a year, and a large dam could have saved $ 5 billion a year. “If these projects had been carried out in time, Pakistan could have saved $ 200 billion in 25 years, while guaranteeing affordable electricity,” he added.
Stressing the minerals, agriculture and the unused potential of Pakistan, Rafi congratulated the vision of the general chief of the army asim Munnir for economic renewal, which focuses on these key sectors.
“This is an idea of a game that no one has previously offered. The development of minerals, IT and agriculture will transform the economy of Pakistan and bring prosperity, “he added.
He underlined the Boom of the Middle East mineral extraction as an example of the way in which Pakistan could reach a similar economic success. “We must quickly develop our mineral resources and present them on the world market,” he said.
In the IT sector, RAFI has urged immediate investments in artificial intelligence and software exports, saying: “If we can increase computer exports to $ 20 billion, Pakistan will no longer need foreign loans.”
For the agriculture sector, he highlighted the need for new culture seeds to double yields by acre and stimulate food security.
Calling for urgent privatization of government loss of loss, RAFI has urged the government to announce a set of mineral incentives to stimulate exports.
“Cheap electricity is crucial to increase exports and industrial growth. The economic increase in China is largely due to the availability of an affordable power, “he added.
On the tax, Rafi stressed the importance of paying taxes for national development. “A high tax base allows the government to invest in defense, education, health care and infrastructure. Not paying taxes is a national misfortune, “he said, adding that FBR reforms must give positive results to increase tax revenue.
For the upcoming budget, he suggested that security improvements were essential to attract foreign direct investments. He also asked the State Bank to review the policies that restrict the repatriation of profits, to create a more friendly environment for investors.
“The economy will only increase when the investment circulates. Unfortunately, in Pakistan, earning money is often considered a crime. This state of mind must change, ”he noted.
Stressing the need for political stability and coherent economic policies, Rafi warned against the repetition of past errors and asked the government to examine policies that hinder local and foreign investments.
Originally published in The news