Budget season – this week in Pakistan’s business and economics twitterverse

Budget season was upon us over the course of the pat week, finally culminating in a relatively run-of-the-mill speech in parliament by finance minister Miftah Ismail. Ariba Shahid brings you all the budget talk and more in this week’s social media roundup. 

 

Real estate is one of the largest grey areas in Pakistan. The commodification of real estate makes it difficult for actual capital markets to prosper. Keeping this in mind, the new budget proposed offers a level playing field for the Pakistan Stock Exchange to compete with.

At this point, it makes more sense for everyone to move onto bicycles. The perfect time to make a bet on a cycle business. Maybe they might even end up listing on the bourse. Who knows! But one does wonder whether Pakistanis are willing to make lifestyle changes.

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Why do something the easy way? Make it complicated and find a loophole to make money off. It’s that simple. Hey, might as well drive up the current account deficit too for your gain. After all, does anyone even care?

Go big or go home. Don’t fall for the peer pressure of blitz scaling and over the top expenditures. Do your business your way. Stay true to what you hold sacred. The fear of missing out is far too intense. Besides, not everyone has to be the next Marriot. You could be a small boutique hotel too. Just do your thing.

Mustafa Pasha nicely pens down the tax you have to pay based on your salary. However, while the budget provides a level playing field for the PSX compared to property, it also takes away the incentive of going for mutual funds of VPS. I mean, what is the point now? Might as well use your brain and do it yourself.

Salaried individuals already pay enough indirect taxes. They are also taxed more considering they’re documented. This tax break helps the salary class especially considering they’re unlikely to get a pay rise in this inflationary environment where layoffs are happening.

Financial abuse is also abuse. Money is independence in todays day and age. Taking away access to it, is abuse. In our attempts to be more financially inclusive, I hope banks realize there is more to female financial inclusion than to be pink.

Cant make digital Pakistan a reality unless you promote digital transactions. That’s it. 

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

1 COMMENT

  1. Budget season was upon us over the course of the pat week, finally culminating in a relatively run-of-the-mill speech in parliament by finance minister Miftah Ismail. Ariba Shahid brings you all the budget talk and more in this week’s social media roundup.

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