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'' 'JOBS? -PAKISTANI WORLD- JOBS!' ''
NO MATTER WHAT the economic plans and execution, O''Captain Imran Khan, needs to earnestly consider an interim, monthly survival stripend for all unemployed students.
The unemployed students will sincerely and graciously return the money, in installments, but only after they have established a regular means of income. What else are ''micro-finance banks for?''
AND THERE IS A GREAT NEED to systematically discourage the prevalent culture in the government sector that treats wealth generation as a negative phenomenon.
The Ministry of Finance has unveiled the government strategy to create 10 million new jobs in different sectors during its five years tenure.
According to the media reports, these new jobs will be created after the implementation of various government projects. For instance, the creation of two million new jobs, once Naya Pakistan Housing scheme is fully implemented.
Full Implementation of National Financial Inclusion Strategy, according to the State Bank of Pakistan, may create one million jobs from digital financial services.
Another half a million jobs will be created through green economy on account of the 10 billion tree project.
Two million jobs may result from enhanced credit access through social sector programs alongside creating three micro entrepreneurs during the government's five year tenure.
In this regards the government's priority is human capital development. The ministry has also reportedly noted that economic growth without creating new jobs is not good for the people of Pakistan.
The creation and sustainability of new jobs, however, requires a deeper understanding of the endogenous and exogenous dynamics of the economy.
Looking at the government's strategy to create new jobs in different sectors, it maybe noted that there is an intertwined relationship among economic growth, taxes and creation of new jobs.
It is a kind of a three-tier process in which one component is to ensure a reasonable rate of economic growth by crafting intelligent tax policies. It is because the quantum of taxes depends on the economic growth.
Therefore, the policy makers suggesting higher tax rates may seriously be mistaken because the amount of collected taxes is directly proportional to the rate with which the economy grows.
The acknowledgement of this relationship at the policy level may be treated a second component.
At this stage, a national and business friendly tax policy needs to be devised that could generate maximum profits for the private sector. Once the government is able to make businesses and entrepreneurial adventures attractive, it will create jobs in the public and private sector.
It can be marked as the third component. In order to make the businesses attractive to the private sector the government may offer incentives to the taxpayers so as to encourage the growth of businesses and profits.
It maybe argued that the tax incentives, thus offered, may result in kind of private sector led economic growth.
Transforming the government's ambition to create 10 million jobs into reality, therefore also needs an understanding the impacts of tax incentives on economic growth.
This approach will not only be helpful in creating new jobs, both in public and private sectors, but also make them sustainable in the long run.
CREATION OF NEW JOBS largely depends on the business growth, their location, expansion, alongside frequent fresh starts with later rate of business failure.
Different countries of the world generally offer tax incentives to influence these factors. The literature shows that tax policies are made on the basis of national and international business and trade situations.
Tax incentives may, therefore, not only aim at rescuing businesses from failures but also safeguarding them from competition at the international level.
The Honor and Serving of the latest Global Operational Research on Jobs and Economics, continues. The World Students Society thanks author and researcher Dr. M.B.Chohan, University of Massey, New Zealand.
With respectful dedication to the Leaders, Students, Professors and Teachers of Proud Pakistan. See Ya all prepare for Great Global Elections and ''register'' on : wssciw.blogspot.com and.................... Twitter -E-!WOW! - the Ecosystem 2011:
'''Creation & Contours'''
SAM Daily Times - the Voice of the Voiceless
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