Islamabad, June 23, 2023 (PPI-OT): Brig. (retd) Aslam Khan, Chairman of Pakistan Economy Watch (PEW) said on Friday that a large number of dollars are being smuggled from the country to Afghanistan and Iran. Pakistan's economy is getting weak due to continuous smuggling of dollars, while the economy of both the neighbouring countries is getting stable, he said.
There is no corruption in the government machinery in Afghanistan due to which their economy is flourishing despite the sanctions, he added. In a statement issued here today, Aslam Khan said that immediately after the US withdrawal from Afghanistan, one US dollar was available at 124 Afghani, while now one US dollar is available at 86 Afghani.
In contrast, at the time of the American withdrawal from Afghanistan, one US dollar in Pakistan was worth about 176 rupees, which is now available at almost 300 rupees. He noted that despite the wishes of dozens of countries, the dollars smuggled from Pakistan helped Afghanistan to remain afloat.
The rulers in Afghanistan are not inclined to create assets and prefer personal welfare over national interest. Aslam Khan said that resources are not being plundered in Afghanistan but distributed properly, which is promoting economic development.
In Pakistan, rupee is continuously devalued for the sake of exporters, which makes imports more expensive which the poor people have to bear. Frequent changes in key policies, non-taxation of the sectors that contribute 60% of GDP and other issues affects the confidence of consumers and investors, which weakens the economy.
Neighbouring countries are taxing rich to benefit poor, but here poor are taxed to promote elitism, he observed. Pakistan has often been described as an elitist state. The national economy has been captured by a small elite class, which manipulates the market and control the state, resulting in an inefficient resource allocation and an inequitable income distribution. The elite has been so powerful that no one dares to challenge their dominations, which has pushed the country to the brink.
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