Party : Bedar Pakistan
Symbol : Aeroplane
Name of Party Leader : Abdul Razak Mian
Home Page : http://www.bedarpakistan.com/engindex.php
Bedar Manifesto :
1. At least Rs. 2.5 to 3 Trillion will be guaranteed to the Government at the start of the financial year.
2. Nobody will be asked to pay any tax.
3. Massive employment (without any cost to the Govt.) will be guaranteed.
4. At least $20 to 25 Billion remitted through banks from overseas Pakistanis.
5. End of borrowings from IMF.
6. No further devaluation of Pakistani Rupee required.
7. Smuggling of goods into the country will be eliminated.
8. Law and order situation will improve as the economy recovers.
9. Industrial revolution and Electricity, telephone, gas theft as well as over charging will be eliminated.
10. Salary of all government employees will increase three folds, which will reduce the rate of corruption to a great extent.
11. Tax free economy and start of interest free banking. Investment in infra structure and social development programs will be massive.
THE MUTUAL BENEFIT COUPON SYSTEM :
** In 2012-2013 Pakistan has projected an estimated budget of Rs. 2960 Billion for the current fiscal year.
** Unfortunately by the conclusion of the fiscal year actual expenses will exceed Rupees 4000 Billion.
** In fact, generation and collection of revenue inclusive of Tax Revenue (including income tax, sales tax, duties, surcharge etc.) and Non-Tax Revenue never surpasses the mark of Rupees 2000 Billion.
** The annual average budget deficit for last five years was not less than Rs. 1000 billion.
** The question arises then how does the government cover this shortfall.
Government has the following budgetary and non-budgetary supports available to balance this deficit:
i. Prints money without having adequate reserves resulting in inflation and devaluation of currency.
ii. Prints prize bonds, treasury bonds and saving certificates and sale these instruments through banks and other government agencies. These carry high interest/yield rates and increase public borrowings and increase in internal debts.
iii. Buys foreign currency (USD) from open market to cover the shortfall in foreign exchange of approximately 5 billion Dollars every year. Resulting into devastating devaluation of Rupee against other currencies.
iv. Borrows fresh loans from JR’s like IMF, ADB, World Bank etc. It is claimed that interest rates are very competitive never the less these loans and interest thereon has to be paid, consequently external debt increases every year.
v. Borrows from banking system and hardly pays back. These debts increase every year, as government is unable to even pay interest on the borrowings and reschedule these loans.
vi. Government controls the prices of vital commodities like petrol, electricity etc. and services. To reduce the budget deficit, increases price of such commodities, which adversely affect the cost of goods produced or imported in Pakistan. This year budget was presented in June and in next month i.e. July gas charges has been increased. Such devastating rise in prices has worse impact on economic activities and increases input cost manifold. Resulting into higher cost of merchandize for domestic consumption and international market as well. This also widens the trade gap between imports and exports.
Benefit to 90 % Population :
There are many types of government fee. A consumer can get the benefit by paying twice the number of coupons of the actual price. This procedure shall be adopted for the payment of all Government fees like postal service charges, railway and bus tickets, duties on airline tickets, stamp duties, school, college and hospital fee etc. Under this system present fee becomes artificial price and twice the number of coupons to the price becomes subsidized price. This gives very big incentive to all the classes of people and hence it gives a big boost to revenue collection in the very first month.
Overall Effect of System :
1. At least Rs. 2.5 to 3 Trillion will be guaranteed to the Government at the start of the financial year.
2. Nobody will be asked to pay any tax.
3. Massive employment (without any cost to the Govt.) will be guaranteed.
4. At least $20 to 25 Billion remitted through banks from overseas Pakistanis.
5. End of borrowings from IMF.
6. No further devaluation of Pakistani Rupee required.
7. Smuggling of goods into the country will be eliminated.
8. Law and order situation will improve as the economy recovers.
9. Industrial revolution and Electricity, telephone, gas theft as well as over charging will be eliminated.
10. Salary of all government employees will increase three folds, which will reduce the rate of corruption to a great extent.
11. Tax free economy and start of interest free banking. Investment in infra structure and social development programs will be massive.