PAKISTAN`s economic woes are hitting responsible taxpayers the hardest. A recent report by the Federal Board of Revenue (FBR) revealed a staggering Rs3.879 trillion lost in opaque tax concessions for Escalyear2024,ashocking73 percent increase compared to the previous year.

This system, riddled with exemptions for a privileged few, creates an unfair playing field and burdens those who diligently pay their taxes.

The tax concessions actually represent missed opportunities. This lost revenue could alleviate the debt burden and invest in critical areas, like education, infrastructure and social welfare. The finance minister had hinted at reforming the tax system in the budget, but that did not happen.

The burden on responsible taxpayers is compounded by the harsh economic realities faced by ordinary Pakistanis.

Adding insult to injury, recent reports have talked of a potential plan to impose an additional burden on responsible utility bill payers to compensate for the inability of the relevant bodies to recover dues from defaulters. This double injustice discourages honest citizens from fulfilling their obligations and erodes trust in the system.

The government must prioritise fairness for all citizens. Empty slogans about tackling issues like power theft ring hollow without concrete action. The public cannot continue to be blamed for government inefficiency. As such, a robust strategy to recover dues from defaulters, coupled with dismantling the opaque system of exemptions and privileges, is essential.

Pakistan can chart a new course to prosperity by embracing bold reforms.

Lool(ing beyond its borders, nations lil(e South Korea, Singapore and Georgia offervaluable lessons.They successfully navigated similar challenges through targeted incentives, streamlined regulations, investment in education, and a crackdown on corruption.

The road to needed economic reform is challenging but brimming with potential.By learning from global success stories, prioritising accountability and fairness, as well as harnessing collective wisdom, Pakistan can overcome its current woes and emerge much stronger. And, indeed, the time for decisive action is now.

Majid Burfat Karachi