I had written an article, Notorious Parking Lot.
So, now that parking lot is there.
So, the fundamental problem of economics is that
for the poor man, the plot is no longer viable.
It is still not technically viable.
That problem, the economic problem has not been solved.
That you did not close this parking lot,
but indirectly opened the parking lot.
That is, the problem of economics has remained in place.
The poor man will not take the plot.
The plot will always go to the investor.
And this parking lot will continue to be made for the investor in plot.
There is no plot investor property anywhere in the world.
And this is our economic mistake.
This is not a tax mistake.
This is our economic mistake.
It has to be corrected.
And whoever will come, he will correct it.
So, it will have to be done.
If it does not come, it will happen tomorrow.
What I said in your previous interview,
that the first action of the government was state bank valuation.
That was the best step.
And that was the right step.
And the government took the right action.
There should have been no immunity of 111.
And this parking lot should have been closed.
But I think that the government could not resist that pressure.
Which came from the state traders.
And they conceded it and came to this position today.
The valuation of the state bank, people could not understand it.
They were not saying this valuation.
They were saying that there should be a fair valuation.
Which is logical.
Everyone knows.
Which country decides the value or BR for property dealing?
As I told you in the program earlier,
that there are two plots, one cannot be made.
So, making a table is wrong.
Technically, a table is a conceptually wrong thing.
One plot is east open, one is west open.
How can we have the same price?
Everyone knows.
See, the problem is that we do not want to speak the truth.
We do not want to speak the truth that
there is a parking lot in this open plot for black money.
Why don’t we accept it?
If we speak the truth that it is there.
If you go there and talk, this is the reality.
That there is a parking lot.
Now, to speak the truth that the valuation is bad,
valuation is good, this is that.
You want to convert it into capital.
This is wrong.
So, you are doing this against Pakistan.
You are doing this against the country.
So, no poor man will be able to deal with an open plot in this country.
And this is what I was saying earlier and I am saying it even today.
That nowhere in the world is there an open plot investment property.
The whole problem is with the plot, not with the property.
I talked to a lot of people.
I explained all the angles to them.
And I praised FM that when FM took the action,
the first one was absolutely right.
I was saying it to them that day.
I still say that the action is very good.
But now the question is that the pressure that comes after that,
and what the Standing Committee of the National Assembly said,
and what people said and everything happened,
to stop that pressure, there is no civil society in front of the government.
Our common man, our taxpayer, our common citizen,
he does not stand and say that why are you giving it to them, what is our fault?
So, our certain lobbies, certain mafias, whatever you call them,
they override the decisions of our policy makers at times.
And that is what happens.
And it will happen.
But let me tell you one thing.
In this plot story, the jinn has come out of the bottle.
This 2, 3, 4 years of honeymoon will end.
This honeymoon cannot last forever.
Because this jinn, now you and I are discussing,
has it ever been discussed before?
So, will any government have the courage to reduce the FDR value?
Today, will any government have the courage to say that the defence plot is worth Rs. 20 lakhs?
Will any government have the courage?
Any government will come.
Now it will go above Rs. 1 crore and will never come down.
Now it will never come down.
No one in Pakistan will have the courage to bring it below Rs. 1 crore.
Now it will go up.
That is why I am saying that the jinn has come out of the bottle.
Now it will go up to Rs. 1 crore, 2 crores, 3 crores, 5 crores.
So, this government will have to give the courage to bring the jinn out of the bottle.
Later, the jinn has been controlled a little, but the jinn has come out of the bottle.
So, if you look at it carefully today,
so in Pakistan, Rs. 111 crore was brought out of Pakistan.
That became a whitener.
Now this new whitener has come of 3%.
So, those people who are giving 30% tax or 35% tax,
they will be forced to think that why should we give 35% tax?
So, this is a dichotomy in the law.
We will have to correct this.
This is not right.
Look, this has been said before,
it was said before today that
whether equity is challenged in the taxation court or not.
I do not want to comment,
but unfortunately,
the decision given by the Supreme Court of Pakistan,
in the Ilahi Court of Appeal,
given by Mr. Tukhan Ahmad Chaudhary,
with all due respect,
I can say that the decision is wrong.
It was a very wrong decision.
In which he had given a very wide right of taxation to the government.
If that decision is put forward,
then perhaps this challenge could not have been done.
But if the bench of the Supreme Court can review its decision,
that 5 member bench of the Ilahi Court of Appeal,
which came at the time of the presumed tax,
if that decision is looked at,
then perhaps this review could not have been done.
But a larger bench of the Supreme Court should be formed,
it should review that decision as well,
that decision is also wrong.
Just like Mr. Bhutto’s case is a political murder,
the Ilahi Court of Appeal is the murder of Pakistan’s taxation.
It is a legal murder.
So you should correct that,
and that larger bench,
obviously, I think that after the decision comes,
we can comment on this decision.
That decision is not right in my opinion.
That review should be done,
and when that review will be done,
then what you are saying can happen.
That you can challenge the right of taxation,
that equity should be there.
If there is no equity, then the right of taxation is not formed.
According to me, this comes under the power of the Supreme Court.
Because perhaps the law says that
every citizen has equal rights.
Notorious Parking Lot shabbar zaidi
