Tax the public to pay back the loans consumed by the elite; this has been the norm in preparing budgets since the debt trap was laid in October, 1958. Despite the fact that less than 1 percent pay income tax in the land of the pure, the FBR is hoping to collect all these taxes this year. Only in very large projects some short-term debt makes sense, but with a clear road map to pay it back. Debt with no pay back mechanism is death, both for the nation and the individuals who spend borrowed money as if there is no payback. Fuel at Rs150 billion was the highest, followed by edible oil at Rs 50 billion followed by tea at Rs 20 billion.
