Pakistan on brink of default due to tax evasion, says Asif

Pakistan has been facing a default-like situation and is nearly bankrupt, Defence Mini­ster Khawaja Asif said on Sunday, attributing the crisis to widespread tax evasion by the big fish. The minister said major sectors like retailers and wholesalers were reluctant to fulfil their tax duties, which he added was a primary cause of the country’s economic woes. Talking to the media in his hometown of Sialkot, Mr Asif acknowledged that the government could not give immediate relief to the masses. However, he projected a bright future, insisting that the government’s current economic policies would begin to yield substantial benefits for the public within the next two years. He lamented that the burden of taxation falls disproportionately on the salaried class while others neglect this critical responsibility.