Shahbaz Sharif: ‘Cut Taxes by 10-15% to Boost Growth’

In a recent statement, Shahbaz Sharif, the former Prime Minister of Pakistan, emphasized the need for tax reductions to stimulate the country’s economic growth.

He proposed slashing taxes by 10-15%, arguing that this would ease the financial burden on businesses and individuals, fostering an environment conducive to investment and economic expansion.

Sharif believes that Pakistan’s tax rates are among the highest in the region, which discourages entrepreneurial activity and deters foreign investment.

By reducing taxes, he suggests that businesses would have more capital to reinvest in growth, leading to job creation and higher productivity.

Additionally, he pointed out that consumers would have more disposable income, which would likely boost demand for goods and services, further driving economic growth.

Sharif highlighted that this approach would not only increase tax compliance but also improve the country’s investment climate, attracting foreign direct investment (FDI).

Sharif’s call for tax cuts comes amidst concerns over Pakistan’s current economic challenges, including inflation, unemployment, and a rising fiscal deficit.

He contended that the government’s focus should shift from increasing tax rates to creating policies that enhance business opportunities and economic resilience.

A more competitive tax structure, he argued, would help Pakistan maintain a stable economic trajectory in a rapidly changing global market.

Critics of the proposal, however, argue that significant tax cuts could further strain Pakistan’s already fragile fiscal situation.

They suggest that any reductions must be carefully balanced with efforts to improve tax collection and reduce unnecessary public spending.

Despite differing opinions, Sharif’s suggestion has ignited a much-needed conversation on how to revitalize Pakistan’s economy and secure long-term sustainable growth.