US EditionWhy consumption-led growth is failing
Summary by The Express Tribune
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Why consumption-led growth is failing
Pakistan's economy is trapped in a structural bind: a consumption-led growth model drives up imports, suppresses exports, and widens tax revenue shortfalls, while an overreliance on regressive withholding taxes – deducted at source from salaries, imports, and production – burdens consumers and stifles progress. In the first half of fiscal year 2024-25, the Federal Board of Revenue (FBR) missed its Rs6.009 trillion tax collection target by Rs386 …
·Pakistan
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