Pakistani authorities should ponder over issue of debt sustainability: Report

Islamabad [Pakistan], June 29 : Pakistani authorities should ponder over the issue of debt sustainability, according to Daily Times.

As per Daily Times, newly announced tax measures are bound to dampen the fanfare of the historic "economic revival plan".

By dumping a whole lot on an unbelievably restricted tax net, a clear message is being sent to all businesses: make use of all the loopholes in the code.

Rampant concerns about unsustainable profitability cuts have drawn the ire of the business community while the common man has had his hands up in the air for quite some time now.

As per Daily Times, there hasn't been much talk about the chronic fiscal problems as of yet. Simple arithmetic calculations might explain the need for a bailout to the tune of USD 5 billion.

Recently, speakers at a seminar on US-Pakistan relations argued that increasing vulnerability will force Pakistan deeper into debt. The speakers urged the US to help Pakistan rebuild its ailing economy, Pakistan-based Dawn reported.

The seminar, organised jointly by the Wilson Centre, Washington, and the International Academy of Letters (IAL), USA, tried to explore how to promote US- Pakistan relations after the withdrawal of American troops from Afghanistan.

Speakers stressed the need to transform the security-oriented relationship between the two countries into an economic and trade partnership beneficial for both, according to Dawn.

Professor Hassan Abbas who teaches international relations at the National Defence University, Washington, said: "The traditional military-to-military ties are just one pillar of the relationship."

"We cannot build a relationship on one pillar only. A partnership needs to cover all key aspects, trade, education, health, culture," he said.

He pointed out that even the security partnership should go beyond military-to-military ties. "A country's security includes law enforcement, criminal justice, narcotics control, economic security, and social protections," he said.