ISLAMABAD: Cash-strapped Pakistan is facing an "existential crisis" due to lack of tax collection and over dependence on loans, a report warned today.
According to a report by non-profit organisation Raftar, Pakistan's economy continues to rely heavily on "commercial loans, concessionary donor loans and aid".
The meager tax-to-GDP ratio of 9.4 per cent has led to a public debt of 17 trillion rupees (USD 163 billion), which shows a three-fold increase since 2008 for the USD 23 ..
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http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
According to a report by non-profit organisation Raftar, Pakistan's economy continues to rely heavily on "commercial loans, concessionary donor loans and aid".
The meager tax-to-GDP ratio of 9.4 per cent has led to a public debt of 17 trillion rupees (USD 163 billion), which shows a three-fold increase since 2008 for the USD 23 ..
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst