Faculty / School
School of Economics and Social Sciences (SESS)
Department
Department of Economics
Was this content written or created while at IBA?
Yes
Document Type
Book Chapter
Publication Date
7-2024
Book or Conference Proceedings Title
The State of Pakistan's Economy 2024-25: Tapping the Economic Potential: Strategies for Productivity and Growth
ISBN/ISSN
9789699759345
First Page
3
Last Page
15
Publisher
IBA Press
Place of Publication
Karachi
Keywords
Tax Targets, Policy Framework, Tax Expenditure
Abstract / Description
Pakistan economy is facing economic slowdown, inflationary pressures, losses from state-owned enterprises, and circular debt. The tax target for FY25 seems over-ambitiously high at PKR 12.97 trillion (10.45 percent of GDP). The target for non-tax revenue has been set at PKR 4.85 trillion, which is 64 percent higher than the revised estimate of FY24. A debt and deficit driven fiscal equation might not have fiscal viability, but the situation will remain unchanged until a decent tax-to-GDP benefit taxation with fair tax incidence and equitable public spending system is in place.
Recommended Citation
Khan, A. B. (2024). Fiscal Challenges and Budget FY25. The State of Pakistan's Economy 2024-25: Tapping the Economic Potential: Strategies for Productivity and Growth, 3-15. Retrieved from https://ir.iba.edu.pk/faculty-research-series/127