Avoidance or evasion – this week in Pakistan’s business and economics twitterverse

Another very busy week as insane amounts of heroin worth more than entire airlines were recovered and we look into just how well the implementation of the new minimum wage has been (surprise: it hasn’t been going well) and questions about tax evasion and tax avoidance (they are not the same thing. Ariba Shahid brings you all this and more in this week’s social media roundup.  

Heroin heroin, my airline for some heroin … 

I wonder how many kilograms of heroin PIA is worth? Then again, that is a whole lot of heroin as well. 

Implementation is key 

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This year we applauded the budget for increasing the minimum wage. But what’s the point when it isn’t implemented, and that too by a booming industry? We need to do better in terms of our domestic help, but there also needs to be a lot of regulation of industries operating in the formal sector. 

Evasion or avoidance? 

Do you find taxation daunting? It’s actually pretty confusing. This is what pushes towards tax avoidance and unfortunately evading because of how complicated it gets for filers. This is kind of like the chicken and egg problem. Then again, an argument could be made that tax avoidance is undertaken by those that actually understand (or have lawyers that understand) taxation, while tax evasion can be quite accidental. 

Terrifying paperwork 

Have you received a tax refund? Yes? Wow you’re great at this and have your life all sorted out. But if you’re like us and haven’t got a refund yet, why is that? Because you’re scared of the paperwork.

Do better 

Sometimes it’s very easy to read through the fake moral supremacy. Especially when acts are performative such as paper straws wrapped in plastic. Do better. 

Rambo was where? 

Why is Ramiz Raja at the PSX? We don’t really know but to be honest celebrities do open trade for exchanges around the world. A more pertinent question here could be why there are no sports companies or teams listed on the PSX? Why isn’t the PSL and its teams listed?

Tortoise and the hare 

Ever heard the legendary fable of the tortoise and the hare. Well in the real world, sometimes the tortoise wins, sometimes the hare, sometimes both. But undervaluing or underestimating the tortoise is only going to give you investor fomo.

Reality check 

This is not the reality check we needed at the beginning of the month.

Favourite child 

The joke has been done to death. The State Bank of Pakistan needs to be renamed to the SBOP. It’s time. They’re not even trying to hide their favoritism anymore and we’re turning green with jealousy.

Humble beginnings 

One good idea can make a business. This is an example. If you’re from Karachi you know just how big Imtiaz is and the humble beginning it took off from.

Spilled milk … 

What do you need to make cream cheese? Milk. We’ve got plenty but no one is actually working on it. Missed opportunity. 

Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid

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