Fiscal Deficit

Pakistan is faced with one of the worst fiscal deficits of its history.  The only way to combat it is to cut down the expenditure and increase the income.

Decreasing spending is a short term and comparatively an easier measure than increasing revenue, (not through taxes) which is more sustainable in the long run. Most non-essentials can be cut out readily though a few with a spending addiction may find it hard to do so. For them a national culture of savings will have to be introduced.  Import of P.O.L. is one of our major expenses which can be easily curtailed. One can see the “wastage” by the number of cars carrying only one person in it most of the time. One person going to the office.  One student going to school, college or university. One shop keeper going to the shop and parking the car there for the rest of the day causing traffic congestion also. This fuel consumption can easily be cut down to one half, one third or one fourth by “motor pooling” and the commuters taking their turns daily in rotation. Next, govt. can introduce plying of “odd” and “even” number ! plate vehicles (except commercial transport) on alternate days. That is; the odd number plate vehicles on Monday and even number plate vehicles on Tuesday, so on so forth. This measure alone will cut down the fuel imports by almost one third.

The financial pundits and gurus can come up with similar many more measures to cut down the expenses to reduce the fiscal deficit, which we all as patriotic citizens should feel proud to abide by gladly.

Col. Riaz Jafri (Retd)