Dr. Niaz Ahmed Khan, FRCS, PhD , This man dr Niaz Ahmed Khan is a gift of God to Pakistan. He started a campaign all over TV in early 2000s during Musharraf/shaukat term to implement this system but perhaps us/imf-world bank was pressurizing not to because it would seriously shut down their revenue streams from Pakistan. He traveled all over Pakistan for the campaign but according to one source govt had to ban the TV program.
His mission, to establish this dream of an interest and tax free country, to help those living in poverty, and even further improve the lives of all other inhabitants of our country. How Bedar Pakistan plans to remove poverty is by purging the current tax system and replacing it with a system that is not only compatible within the Islamic Laws, but also one that would transform the present economy into an almost ideological super economy, cleaving a path to a revolution in this country. His program will take Pakistan out of debt into surplus where Pakistan in less than 10 Years would have enough to spend in all sectors without asking imf/world bank and other nations.
1. At least Rs. 2 Trillion will be guaranteed to the Government in few days.
2. Nobody will be asked to pay any tax.
3. Massive employment (without any cost to the Govt.) will be guaranteed.
4. At least $ 8 to 15 Billion remitted through banks from overseas Pakistanis.
5. No help from IMF.
6. No devaluation of Pakistani Rupee will be required.
7. Smuggling of goods into the country will be eliminated.
8. Law and order situation will improve as the economy recovers.
9. Industrial revolution and Electricity, telephone, gas theft as well as over charging will be eliminated.
10. Salary of all government employees will increase three folds, which will reduce the rate of corruption to a great extent.
11. Interest free banking.
12. End of the era of feudal lords.
13. Complete eradication of Hasshish, Heroine and other drugs.
14. Complete eradication of terrorism in Pakistan is guaranteed.
15. Spread of true spirit of Islam throughout the country.
16. 100% literacy rate within 5 years.
17. 0% unemployment in one year.
Q: How do you control the artificial raised prices and subsidized prices of the commodities/services produced by private sector?
The MBC System does not control the prices of private sector but only help in reduction of production of cost by at least half with the help of cheep coupons and zero tax with zero duty. So there is no artificial price or over price in private sector, but with each product sold in the market it will be offered cheaper if 15% coupons are also paid with the cash.
Q: Why should one make an advance payment for the expenses that has to be done in future?
Yes it is an advance payment for the expenses to be borne in future but the benefit of this advance payment is threefold. The user will get the benefit of reduced prices, which will not be available if coupons are not utilized. The cost incurred on purchase of the coupons is far less and the benefits are tremendous.
Q: Is there any financial incentive for such an advance payment other than coupons?
No there is no other financial incentive and the payee will get the coupons according to the prescribed sliding scale. However incentive in the shape of extra coupons or waiver in import duty etc. would be available in earlier months of the financial year but the real financial benefit is also available of coupons are brought at cheaper price and then sold at a higher price when the rate of coupons is lower in the later months.
Q: Worth Rs. 100,000/- purchase of coupons allow a person a duty free import of Rs. 500,000/-. Is it whether a) Cost of the item? b) CNF value of the item? or c) Amount of duty and taxes to be waived?
Option to import any lawful item into Pakistan would be available to the person spending Rs. 100,000/- on purchase of coupons in the very first month of the financial year. This will be the waiver of Rs. 500,000/- in the import/custom duties.
Q: In the situation mentioned in Question No. 6 how would you control the risk of under invoicing of goods and commodities?
Under invoicing is done to evade duties and taxes. In situations where custom duties are completely or partially waived off there will be no need of under invoicing to evade duties.
Q: Incentives of extra coupons or duty free imports are offered to persons investing Rs. 100,000/- or more and nothing is offered to persons buying lesser coupons. Why?
Incentives like extra coupons or waiver of duties are available to persons spending Rs. 100,000/-. Such big incentives are not available to person spending lesser amount. But such class of society can pool their friends to avail this opportunity. However, the benefit of reduction in cost of living by 30-60 % would always be available to everyone utilizing coupons at the time of conducting any transaction. A clever business man will get extra 5 to 7 % from the selling agent so he cost of coupons is even less and hence will sell the coupons at one \rupee to 6 coupons to every body and will sell his entire stock over night and will keep on purchasing and selling coupons to every body and selling coupons till the offer losts and hence earning 100 to 150 profit in a month and this source will gave poor man rate of coupon whiich 6 coupon to one rupee market.
Q: How do you generate the same amount of revenue in subsequent years since the coupons are valid indefinitely and are in circulation right from the very first day?
The use of coupons is not restricted to only individual consumers. Traders, manufacturers, importers, agriculturists and corporate entities will also require coupons for their day-to-day usage. These segment of coupons users sale and purchase their merchandise through Pakistan Monetary Fund (PMF). It has been discussed in detail under the heading “MBCS and Business” above and every body is wise enough to buy coupons according to his needs and the spare coupons are sold in the open market at a profit or will srrender coupon to get duty free options. So there are two doors for the extra coupons to be used.
Q: Conversion of black money in this system could not generate the same amount of Revenue in subsequent years. In such circumstances what remedies would be available to government?
Black money or extra cash is used by the Govt. to invest in high tech industry or even big business and in land reforms and will get the profit every year and will not need the black money to support the govt. sd this source of investing will creat much more than black money avaiable in the next year.
Q: What is the organizational structure of PMF? How does it operate?
This will be a private organization selected by open bidding process. It shall be responsible to sell coupons through agents, collection of funds from agents and deposit the same into government treasury. The PMF shall open its regional offices, which monitors the branches in each city of their region. These branches will be linked to each other through the use of latest IT infrastructure and will be available even in a smallest village as it will help P.M.F. to get share of profit of each coupon sold. So it is in the ——- to establish a wide spread custom friendly structure.
Q: How would you ensure transparent operations of PMF?
As discussed earlier that PMF will be selected through open bid. Next three lower bidders will be appointed as auditors for a fixed fee plus 50% share in penalty (10 times of amount involved) imposed on PMF, in case of any fraud or mistake found in the operations of PMF. Government will be the fourth auditor to check the accounts of PMF
Very Impressive Indeed this is the solution to the Pakistan’s problems only if Govt seriously consider this system the best thing is apart from our current economic system it will be working parallel to it.
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